Allspring Global Investments Holdings LLC Decreases Stock Holdings in Playtika Holding Corp. (NASDAQ:PLTK)

Allspring Global Investments Holdings LLC trimmed its holdings in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 21.5% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 523,354 shares of the company's stock after selling 143,133 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.14% of Playtika worth $2,706,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Covestor Ltd grew its stake in shares of Playtika by 11.4% during the 4th quarter. Covestor Ltd now owns 14,103 shares of the company's stock valued at $98,000 after purchasing an additional 1,447 shares during the period. Sterling Capital Management LLC grew its stake in shares of Playtika by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock valued at $29,000 after purchasing an additional 1,534 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Playtika by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company's stock valued at $3,726,000 after purchasing an additional 1,639 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Playtika by 2.0% during the 1st quarter. SummerHaven Investment Management LLC now owns 103,334 shares of the company's stock valued at $534,000 after purchasing an additional 2,006 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Playtika by 3.0% during the 4th quarter. Invesco Ltd. now owns 78,390 shares of the company's stock valued at $544,000 after purchasing an additional 2,304 shares during the period. 11.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PLTK has been the subject of a number of recent research reports. Bank of America upgraded Playtika from an "underperform" rating to a "buy" rating and boosted their price target for the company from $6.00 to $6.50 in a research note on Wednesday, March 26th. Morgan Stanley cut their price target on Playtika from $7.25 to $5.75 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Finally, Wedbush upgraded Playtika to a "strong-buy" rating in a research note on Tuesday, July 1st. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Playtika has a consensus rating of "Moderate Buy" and a consensus price target of $7.68.

Insider Buying and Selling at Playtika

In other news, major shareholder Holding Uk Ltd Playtika II sold 389,053 shares of Playtika stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $4.70, for a total value of $1,828,549.10. Following the sale, the insider directly owned 199,510,511 shares of the company's stock, valued at approximately $937,699,401.70. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 739,922 shares of company stock worth $3,548,194 in the last ninety days. Company insiders own 4.80% of the company's stock.

Playtika Price Performance

Shares of NASDAQ:PLTK traded up $0.09 during mid-day trading on Tuesday, reaching $4.93. 1,821,708 shares of the company traded hands, compared to its average volume of 1,244,266. The company's 50 day moving average price is $4.88 and its 200-day moving average price is $5.63. The firm has a market cap of $1.85 billion, a PE ratio of 12.97, a PEG ratio of 1.32 and a beta of 0.85. Playtika Holding Corp. has a 52 week low of $3.97 and a 52 week high of $8.80.

Playtika (NASDAQ:PLTK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.02). Playtika had a net margin of 5.37% and a negative return on equity of 149.09%. The company had revenue of $706.00 million for the quarter, compared to analysts' expectations of $699.67 million. During the same period last year, the business earned $0.14 earnings per share. The company's quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Playtika Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 23rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 8.11%. The ex-dividend date of this dividend was Monday, June 23rd. Playtika's dividend payout ratio (DPR) is presently 105.26%.

About Playtika

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.