Playtika Holding Corp. (NASDAQ:PLTK) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Playtika, with one sell, three hold and two buy recommendations. The average 12-month price target is $3.75.
• Recent research has been mixed: TD Cowen maintained a buy rating, while Wall Street Zen downgraded the stock to hold, Weiss Ratings reiterated a sell, and Roth Capital cut its price target to $2.75.
• Several institutional investors initiated positions in the second quarter, led by BlackRock’s approximately $22.2 million stake. Playtika shares opened at $2.17, near their one-year low of $2.09, and institutional investors own 11.94% of the company.

Shares of Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) have been given an average rating of "Hold" by the six analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $3.75.

PLTK has been the topic of a number of recent research reports. TD Cowen reissued a "buy" rating on shares of Playtika in a report on Tuesday, June 9th. Wall Street Zen lowered Playtika from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. The Goldman Sachs Group set a $3.75 price target on Playtika in a report on Friday, August 7th. Weiss Ratings restated a "sell (d)" rating on shares of Playtika in a research report on Wednesday, August 26th. Finally, Roth Capital lowered their price objective on Playtika from $3.50 to $2.75 and set a "neutral" rating for the company in a research note on Monday, August 31st.

Hedge Funds Weigh In On Playtika

Several institutional investors have recently modified their holdings of PLTK. BlackRock Inc. acquired a new position in Playtika during the 2nd quarter valued at about $22,230,000. Man Group plc acquired a new stake in shares of Playtika in the second quarter valued at approximately $2,554,000. Bank of New York Mellon Corp acquired a new stake in shares of Playtika in the second quarter valued at approximately $946,000. Pallas Capital Advisors LLC bought a new stake in shares of Playtika during the second quarter valued at approximately $45,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Playtika during the second quarter worth approximately $429,000. Institutional investors own 11.94% of the company's stock.

Playtika Stock Performance

NASDAQ PLTK opened at $2.17 on Friday. Playtika has a one year low of $2.09 and a one year high of $4.42. The company has a 50-day simple moving average of $2.81 and a 200-day simple moving average of $3.18. The firm has a market capitalization of $827.68 million, a PE ratio of -2.97 and a beta of 1.00.

Playtika Company Profile

Playtika Holding Corp. is a digital entertainment company that develops, publishes and operates free-to-play mobile and online games. Its titles are designed for smartphones, tablets and web platforms and generate revenue primarily through in-game purchases and advertising.

The company's portfolio includes social casino games such as Slotomania, Caesars Slots, House of Fun and Bingo Blitz, as well as casual and social games including June's Journey and Board Kings. Playtika operates and supports its games through live services, which include regular content updates, events and features intended to maintain player engagement.

Founded in 2010, Playtika has expanded through internal development and acquisitions of game studios and intellectual property.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.