Playtika (NASDAQ:PLTK) Sets New 1-Year Low – What’s Next?

Shares of Playtika Holding Corp. (NASDAQ:PLTK) reached a new 52-week low during trading on Tuesday . The stock traded as low as $2.26 and last traded at $2.26, with a volume of 2077179 shares traded. The stock had previously closed at $2.51.

Analysts Set New Price Targets

A number of brokerages have weighed in on PLTK. Roth Capital increased their price target on Playtika from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Wedbush lifted their price objective on Playtika from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded Playtika from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Playtika in a research note on Friday, May 29th. Finally, The Goldman Sachs Group set a $3.75 target price on Playtika in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.11.

Playtika Stock Down 10.0%

The business’s fifty day moving average is $3.58 and its 200-day moving average is $3.38. The stock has a market capitalization of $862.01 million, a PE ratio of -3.10 and a beta of 1.09.

Playtika (NASDAQ:PLTK) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $731.10 million for the quarter, compared to analyst estimates of $713.12 million. Playtika had a negative return on equity of 65.82% and a negative net margin of 9.89%.The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. As a group, sell-side analysts anticipate that Playtika Holding Corp. will post 0.62 EPS for the current fiscal year.

Institutional Trading of Playtika

Institutional investors and hedge funds have recently made changes to their positions in the company. Denali Advisors LLC boosted its holdings in Playtika by 44.0% in the fourth quarter. Denali Advisors LLC now owns 1,112,314 shares of the company’s stock valued at $4,394,000 after acquiring an additional 340,100 shares during the last quarter. Bull Harbor Capital LLC acquired a new stake in Playtika during the first quarter worth about $50,000. Independent Financial Group LLC acquired a new stake in Playtika during the first quarter worth about $28,000. Alpine Global Management LLC purchased a new position in shares of Playtika in the 4th quarter worth about $180,000. Finally, Keynote Financial Services LLC purchased a new position in shares of Playtika in the 4th quarter worth about $41,000. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Playtika Company Profile

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.