Playtika (NASDAQ:PLTK) Sets New 1-Year Low After Analyst Downgrade

Shares of Playtika Holding Corp. (NASDAQ:PLTK) hit a new 52-week low during trading on Monday after Citigroup lowered their price target on the stock from $7.00 to $5.50. Citigroup currently has a buy rating on the stock. Playtika traded as low as $3.21 and last traded at $3.2150, with a volume of 570441 shares traded. The stock had previously closed at $3.47.

A number of other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Playtika from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Weiss Ratings upgraded Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Loop Capital set a $3.75 target price on Playtika in a research note on Monday, November 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $7.00 price target on shares of Playtika in a research note on Friday, October 31st. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.56.

Hedge Funds Weigh In On Playtika

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in Playtika during the second quarter worth about $27,000. Kestra Advisory Services LLC acquired a new position in shares of Playtika in the fourth quarter valued at approximately $32,000. Comerica Bank grew its holdings in shares of Playtika by 278.9% in the fourth quarter. Comerica Bank now owns 9,108 shares of the company’s stock valued at $36,000 after purchasing an additional 6,704 shares in the last quarter. Signaturefd LLC increased its stake in Playtika by 129.8% during the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock worth $36,000 after buying an additional 5,147 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in Playtika during the 4th quarter worth approximately $41,000. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Playtika Trading Down 2.2%

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.78 and a beta of 0.84. The stock’s fifty day simple moving average is $3.67 and its 200-day simple moving average is $3.76.

About Playtika

Playtika Ltd. (NASDAQ: PLTK) is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika’s platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company’s diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.