Playtech (LON:PTEC) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Playtech plc (LON:PTEC)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 337.60 and traded as high as GBX 377.60. Playtech shares last traded at GBX 371.20, with a volume of 307,065 shares changing hands.

Analyst Upgrades and Downgrades

PTEC has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Playtech from GBX 443 to GBX 460 and gave the stock a “buy” rating in a report on Thursday, May 21st. Jefferies Financial Group restated a “hold” rating and issued a GBX 405 price target on shares of Playtech in a research report on Thursday, July 9th. Finally, Citigroup upgraded shares of Playtech to a “buy” rating in a research report on Friday, July 10th.

Playtech Stock Down 0.9%

The company has a debt-to-equity ratio of 24.36, a quick ratio of 1.09 and a current ratio of 1.42. The stock has a market cap of £1.03 billion, a price-to-earnings ratio of 0.76, a PEG ratio of 1.28 and a beta of 0.64. The firm’s 50-day simple moving average is GBX 341.49 and its two-hundred day simple moving average is GBX 337.60.

Playtech declared that its Board of Directors has initiated a share buyback program on Friday, March 27th that authorizes the company to buyback 5,660,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Playtech

In related news, insider Mor Weizer purchased 71,321 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of GBX 375 per share, with a total value of £267,453.75. Also, insider Chris McGinnis purchased 27,080 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of GBX 372 per share, with a total value of £100,737.60. 0.82% of the stock is owned by corporate insiders.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.