Playtika (NASDAQ:PLTK) Reaches New 12-Month Low on Analyst Downgrade

Playtika Holding Corp. (NASDAQ:PLTK) shares hit a new 52-week low during mid-day trading on Monday after Weiss Ratings downgraded the stock from a hold (c-) rating to a sell (d) rating. The company traded as low as $2.85 and last traded at $2.9450, with a volume of 466458 shares changing hands. The stock had previously closed at $3.09.

PLTK has been the topic of several other reports. Wall Street Zen lowered shares of Playtika from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Wedbush cut Playtika from an “outperform” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a report on Monday. Loop Capital set a $3.75 price objective on Playtika in a research report on Monday, November 3rd. The Goldman Sachs Group reduced their target price on Playtika from $4.75 to $4.25 and set a “neutral” rating on the stock in a research report on Monday. Finally, Citigroup decreased their price target on Playtika from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.68.

Institutional Investors Weigh In On Playtika

Several institutional investors and hedge funds have recently modified their holdings of PLTK. Wealth Enhancement Advisory Services LLC boosted its holdings in Playtika by 3.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 76,907 shares of the company’s stock valued at $276,000 after acquiring an additional 2,670 shares during the period. R Squared Ltd increased its stake in Playtika by 29.3% during the third quarter. R Squared Ltd now owns 13,017 shares of the company’s stock worth $51,000 after purchasing an additional 2,946 shares during the period. Merit Financial Group LLC lifted its position in shares of Playtika by 17.2% during the third quarter. Merit Financial Group LLC now owns 23,085 shares of the company’s stock worth $90,000 after purchasing an additional 3,381 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of Playtika by 27.6% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 16,300 shares of the company’s stock valued at $66,000 after purchasing an additional 3,524 shares in the last quarter. Finally, Greenwich Wealth Management LLC lifted its holdings in Playtika by 32.9% during the 4th quarter. Greenwich Wealth Management LLC now owns 16,361 shares of the company’s stock worth $65,000 after buying an additional 4,049 shares in the last quarter. Hedge funds and other institutional investors own 11.94% of the company’s stock.

Playtika Price Performance

The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -5.13, a P/E/G ratio of 1.88 and a beta of 0.85. The company’s 50 day simple moving average is $3.56 and its 200 day simple moving average is $3.73.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.96). The company had revenue of $678.80 million for the quarter, compared to analysts’ expectations of $660.32 million. Playtika had a negative return on equity of 211.76% and a negative net margin of 7.49%.Playtika’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. As a group, analysts forecast that Playtika Holding Corp. will post 0.65 earnings per share for the current year.

Playtika Company Profile

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.