Playtika (NASDAQ:PLTK) Price Target Lowered to $4.00 at Citigroup

Key Points

• Citigroup lowered Playtika’s price target from $4.50 to $4.00 while maintaining a “buy” rating, implying 77.38% potential upside from the prior close.
• Analyst sentiment is mixed: Playtika has an overall “Hold” rating and an average price target of $3.79, with ratings ranging from “Buy” to “Sell.”
• Playtika shares rose 0.7% to $2.25, near the company’s one-year low of $2.09; institutional investors own 11.94% of the stock, with several hedge funds recently increasing their positions.

Playtika (NASDAQ:PLTK - Get Free Report) had its price objective cut by analysts at Citigroup from $4.50 to $4.00 in a report released on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 77.38% from the company's previous close.

Several other brokerages have also commented on PLTK. TD Cowen reissued a "buy" rating on shares of Playtika in a report on Tuesday, June 9th. Roth Capital lowered their target price on shares of Playtika from $3.50 to $2.75 and set a "neutral" rating on the stock in a research note on Monday. The Goldman Sachs Group set a $3.75 target price on Playtika in a research note on Friday, August 7th. Weiss Ratings restated a "sell (d)" rating on shares of Playtika in a research report on Wednesday, August 26th. Finally, Wall Street Zen lowered Playtika from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $3.79.

Playtika Stock Up 0.7%

Playtika stock traded up $0.01 during trading on Thursday, hitting $2.25. The stock had a trading volume of 464,011 shares, compared to its average volume of 1,631,936. The stock's 50 day moving average is $3.32 and its two-hundred day moving average is $3.28. Playtika has a 1 year low of $2.09 and a 1 year high of $4.42. The stock has a market cap of $860.10 million, a price-to-earnings ratio of -3.10 and a beta of 1.00.

Hedge Funds Weigh In On Playtika

A number of institutional investors have recently bought and sold shares of PLTK. BlackRock Inc. purchased a new position in shares of Playtika during the second quarter valued at approximately $22,230,000. AQR Capital Management LLC grew its position in Playtika by 65.7% during the second quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company's stock valued at $29,630,000 after buying an additional 2,511,228 shares during the period. Jane Street Group LLC grew its position in Playtika by 536.3% during the first quarter. Jane Street Group LLC now owns 1,354,552 shares of the company's stock valued at $7,003,000 after buying an additional 1,141,685 shares during the period. Man Group plc purchased a new stake in Playtika during the second quarter valued at approximately $2,554,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Playtika by 20.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company's stock valued at $15,455,000 after buying an additional 679,564 shares during the last quarter. 11.94% of the stock is owned by institutional investors.

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.

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