498,457 Playtika Holding Corp. $PLTK Shares Sold by State Street Corp

Key Points

• State Street reduced its Playtika stake by 27.3% in the second quarter, selling 498,457 shares and retaining 1.32 million shares valued at approximately $4.9 million.
• Other institutions, including BlackRock, Man Group and Bank of New York Mellon, established new positions in Playtika during the quarter; institutional investors collectively owned 11.94% of the company.
• Playtika shares opened at $2.13, near their 12-month low, while analysts maintained a mixed outlook with an overall “Hold” rating and a consensus price target of $3.75.

State Street Corp lowered its holdings in shares of Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 27.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,324,124 shares of the company's stock after selling 498,457 shares during the period. State Street Corp owned approximately 0.35% of Playtika worth $4,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Playtika in the 2nd quarter worth approximately $22,230,000. Man Group plc purchased a new position in Playtika during the second quarter valued at $2,554,000. Bank of New York Mellon Corp purchased a new position in Playtika during the second quarter valued at $946,000. Ieq Capital LLC bought a new stake in Playtika in the second quarter worth $121,000. Finally, Quantbot Technologies LP bought a new stake in Playtika in the second quarter worth $97,000. Hedge funds and other institutional investors own 11.94% of the company's stock.

Playtika Trading Down 1.8%

Shares of NASDAQ:PLTK opened at $2.13 on Friday. The company has a market cap of $812.42 million, a price-to-earnings ratio of -2.92 and a beta of 1.00. Playtika Holding Corp. has a 12 month low of $2.09 and a 12 month high of $4.42. The company has a 50-day moving average price of $2.77 and a 200 day moving average price of $3.17.

Analyst Ratings Changes

Several brokerages recently commented on PLTK. Wedbush increased their price objective on shares of Playtika from $3.00 to $4.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Playtika in a research report on Wednesday, August 26th. Wall Street Zen downgraded Playtika from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Citigroup reduced their target price on Playtika from $4.50 to $4.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. Finally, The Goldman Sachs Group set a $3.75 price target on Playtika in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Playtika presently has an average rating of "Hold" and a consensus target price of $3.75.

Playtika 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.

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