Playtech (LON:PTEC) Trading 10.2% Higher – Here’s Why

Playtech plc (LON:PTEC) shot up 10.2% during trading on Tuesday . The company traded as high as GBX 354.50 and last traded at GBX 351.50. 1,682,517 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of Playtech to a “hold” rating and decreased their target price for the stock from GBX 405 to GBX 240 in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research note on Friday, January 23rd.

Playtech Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06. The stock has a fifty day moving average price of GBX 282.45 and a two-hundred day moving average price of GBX 323.19. The company has a market capitalization of £992.89 million, a price-to-earnings ratio of 0.60, a PEG ratio of 1.28 and a beta of 1.26.

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.