Playtech (LON:PTEC) Shares Cross Below 200-Day Moving Average – Should You Sell?

Shares of Playtech plc (LON:PTEC) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 366.38 and traded as low as GBX 230.50. Playtech shares last traded at GBX 232, with a volume of 948,709 shares traded.

Analyst Ratings Changes

A number of equities analysts have issued reports on PTEC shares. Deutsche Bank Aktiengesellschaft upped their target price on Playtech from GBX 417 to GBX 433 and gave the stock a “buy” rating in a report on Thursday, September 11th. Jefferies Financial Group raised their price objective on shares of Playtech from GBX 395 to GBX 405 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Peel Hunt reiterated a “buy” rating and set a GBX 510 target price on shares of Playtech in a research report on Friday, August 1st.

Playtech Stock Performance

The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55. The company has a 50 day moving average price of GBX 313.30 and a 200 day moving average price of GBX 361.56. The company has a market capitalization of £716.09 million, a price-to-earnings ratio of 0.41, a P/E/G ratio of 1.28 and a beta of 1.26.

Playtech declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 25th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

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.