Deutsche Bank Aktiengesellschaft Boosts Playtech (LON:PTEC) Price Target to GBX 460

Playtech (LON:PTEC) had its target price increased by analysts at Deutsche Bank Aktiengesellschaft from GBX 443 to GBX 460 in a research note issued on Thursday,London Stock Exchange reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 34.11% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a GBX 405 price target on shares of Playtech in a report on Wednesday. Citigroup raised their price objective on shares of Playtech from GBX 355 to GBX 400 and gave the company a “buy” rating in a research report on Monday, March 30th.

Playtech Stock Down 6.0%

Shares of LON:PTEC traded down GBX 22 during midday trading on Thursday, hitting GBX 343. 6,956,595 shares of the stock were exchanged, compared to its average volume of 11,917,681. The company has a market capitalization of £953.02 million, a PE ratio of 0.70, a P/E/G ratio of 1.28 and a beta of 0.65. Playtech has a 52-week low of GBX 210 and a 52-week high of GBX 447. The company has a debt-to-equity ratio of 24.36, a quick ratio of 1.09 and a current ratio of 1.42. The business’s fifty day simple moving average is GBX 368.18 and its two-hundred day simple moving average is GBX 316.16.

Playtech announced that its Board of Directors has authorized a stock repurchase plan on Friday, March 27th that allows the company to buyback 5,660,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Playtech

In related news, insider Mor Weizer acquired 71,321 shares of the stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of GBX 375 per share, for a total transaction of £267,453.75. Also, insider Chris McGinnis purchased 27,080 shares of the firm’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. 0.71% of the stock is currently owned by corporate insiders.

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.