Insider Buying: Playtech (LON:PTEC) Insider Buys 27,080 Shares of Stock

Playtech plc (LON:PTEC) insider Chris McGinnis acquired 27,080 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of GBX 372 per share, for a total transaction of £100,737.60.

Playtech Stock Up 0.5%

Shares of PTEC traded up GBX 1.80 during mid-day trading on Wednesday, hitting GBX 365. 71,807,813 shares of the company’s stock were exchanged, compared to its average volume of 12,699,473. The firm has a fifty day moving average of GBX 367.84 and a two-hundred day moving average of GBX 315.52. Playtech plc has a twelve month low of GBX 210 and a twelve month high of GBX 447. The stock has a market cap of £1.01 billion, a price-to-earnings ratio of 0.75, a P/E/G ratio of 1.28 and a beta of 0.65. The company has a quick ratio of 1.09, a current ratio of 1.42 and a debt-to-equity ratio of 24.36.

Playtech declared that its board has initiated a share repurchase plan on Friday, March 27th that permits the company to repurchase 5,660,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Citigroup increased their price target on shares of Playtech from GBX 355 to GBX 400 and gave the company a “buy” rating in a report on Monday, March 30th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a GBX 405 price target on shares of Playtech in a report on Wednesday.

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.