Playtika (NASDAQ:PLTK) Cut to Neutral at Wedbush

Wedbush downgraded shares of Playtika (NASDAQ:PLTK) from an outperform rating to a neutral rating in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have $3.00 price objective on the stock.

Several other brokerages have also recently issued reports on PLTK. Wall Street Zen cut Playtika from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Loop Capital set a $3.75 price target on Playtika in a research report on Monday, November 3rd. Weiss Ratings raised Playtika from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Finally, Citigroup dropped their target price on shares of Playtika from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.68.

Playtika Trading Down 1.1%

PLTK opened at $2.74 on Monday. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -5.07, a PEG ratio of 1.87 and a beta of 0.85. Playtika has a 12-month low of $2.67 and a 12-month high of $5.59. The business’s fifty day simple moving average is $3.53 and its 200-day simple moving average is $3.72.

Playtika (NASDAQ:PLTK) last announced 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 business had revenue of $678.80 million during the quarter, compared to analysts’ expectations of $660.32 million. Playtika had a negative return on equity of 114.29% and a negative net margin of 7.49%.Playtika’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. On average, equities research analysts predict that Playtika will post 0.65 EPS for the current year.

Institutional Trading of Playtika

A number of hedge funds have recently bought and sold shares of PLTK. Ameritas Investment Partners Inc. acquired a new position in shares of Playtika during the 2nd quarter worth approximately $27,000. Kestra Advisory Services LLC acquired a new position in Playtika during the fourth quarter worth $32,000. Comerica Bank boosted its stake in Playtika by 278.9% during the fourth quarter. Comerica Bank now owns 9,108 shares of the company’s stock worth $36,000 after buying an additional 6,704 shares during the last quarter. Signaturefd LLC grew its holdings in Playtika by 129.8% in the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company’s stock valued at $36,000 after buying an additional 5,147 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Playtika in the 4th quarter worth $41,000. Institutional investors and hedge funds own 11.94% of the company’s stock.

About Playtika

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.