Playtika (NASDAQ:PLTK) Trading Down 3.5% After Analyst Downgrade

Playtika Holding Corp. (NASDAQ:PLTK) traded down 3.5% during trading on Thursday after Morgan Stanley lowered their price target on the stock from $7.25 to $5.75. Morgan Stanley currently has an equal weight rating on the stock. Playtika traded as low as $4.89 and last traded at $4.82. 82,646 shares traded hands during trading, a decline of 92% from the average session volume of 1,086,187 shares. The stock had previously closed at $4.99.

Other equities analysts also recently issued research reports about the stock. Wedbush reissued an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a research note on Wednesday, February 26th. Bank of America raised Playtika from an “underperform” rating to a “buy” rating and raised their price objective for the company from $6.00 to $6.50 in a report on Wednesday, March 26th. Citigroup lowered their target price on Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 7th. Macquarie dropped their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Finally, Baird R W cut Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Playtika currently has an average rating of “Hold” and an average target price of $7.78.

Institutional Investors Weigh In On Playtika

A number of institutional investors have recently made changes to their positions in PLTK. Covestor Ltd lifted its stake in shares of Playtika by 11.4% in the fourth quarter. Covestor Ltd now owns 14,103 shares of the company’s stock worth $98,000 after acquiring an additional 1,447 shares during the period. Sterling Capital Management LLC raised its holdings in Playtika by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after purchasing an additional 1,534 shares during the last quarter. Choreo LLC lifted its position in shares of Playtika by 14.9% in the 4th quarter. Choreo LLC now owns 12,485 shares of the company’s stock worth $90,000 after purchasing an additional 1,619 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Playtika by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company’s stock valued at $3,726,000 after purchasing an additional 1,639 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in shares of Playtika by 2.0% during the first quarter. SummerHaven Investment Management LLC now owns 103,334 shares of the company’s stock worth $534,000 after buying an additional 2,006 shares during the period. Institutional investors own 11.94% of the company’s stock.

Playtika Stock Down 1.2 %

The firm has a market cap of $1.85 billion, a P/E ratio of 8.50, a P/E/G ratio of 1.69 and a beta of 0.92. The business’s 50 day moving average is $5.45 and its two-hundred day moving average is $6.88.

Playtika Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 8.11%. The ex-dividend date was Friday, March 21st. Playtika’s dividend payout ratio (DPR) is presently 90.91%.

Playtika Company Profile

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.