Playtika (NASDAQ:PLTK) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Playtika (NASDAQ:PLTK) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other research analysts have also recently commented on PLTK. Roth Capital increased their price target on Playtika from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Morgan Stanley set a $4.25 price target on Playtika in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Playtika in a report on Friday, May 29th. The Goldman Sachs Group set a $3.75 price objective on Playtika in a report on Friday, August 7th. Finally, Wedbush raised their target price on shares of Playtika from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.11.

Playtika Price Performance

Shares of NASDAQ PLTK opened at $2.42 on Friday. The stock has a market capitalization of $923.04 million, a price-to-earnings ratio of -3.32 and a beta of 1.09. The business has a 50-day moving average of $3.50 and a 200-day moving average of $3.34. Playtika has a fifty-two week low of $2.09 and a fifty-two week high of $4.42.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. AXQ Capital LP bought a new stake in Playtika in the 2nd quarter valued at $70,000. Headlands Technologies LLC bought a new position in Playtika during the second quarter worth $173,000. Two Sigma Securities LLC bought a new position in Playtika during the second quarter worth $118,000. Public Employees Retirement System of Ohio increased its holdings in shares of Playtika by 62.7% in the second quarter. Public Employees Retirement System of Ohio now owns 165,394 shares of the company’s stock valued at $615,000 after purchasing an additional 63,717 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Playtika by 115.8% in the second quarter. Bank of America Corp DE now owns 131,977 shares of the company’s stock valued at $491,000 after purchasing an additional 70,806 shares during the last quarter. 11.94% of the stock is owned by institutional investors and hedge funds.

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.