Bank of America Corp DE Sells 544,951 Shares of Playtika Holding Corp. (NASDAQ:PLTK)

Bank of America Corp DE decreased its position in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 79.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 140,014 shares of the company's stock after selling 544,951 shares during the quarter. Bank of America Corp DE's holdings in Playtika were worth $972,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in shares of Playtika in the fourth quarter worth about $1,222,000. Russell Investments Group Ltd. grew its position in shares of Playtika by 43.4% during the fourth quarter. Russell Investments Group Ltd. now owns 260,040 shares of the company's stock worth $1,812,000 after purchasing an additional 78,716 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Playtika by 23,814.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company's stock worth $4,592,000 after purchasing an additional 663,700 shares in the last quarter. Sei Investments Co. grew its holdings in Playtika by 341.2% during the 4th quarter. Sei Investments Co. now owns 76,403 shares of the company's stock valued at $530,000 after buying an additional 59,084 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Playtika during the 4th quarter valued at approximately $201,000. Institutional investors own 11.94% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PLTK. Morgan Stanley lowered their price objective 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. Citigroup decreased their price target on Playtika from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Wedbush reaffirmed an "outperform" rating and set a $11.50 target price on shares of Playtika in a research report on Friday, May 2nd. Robert W. Baird reaffirmed a "neutral" rating and set a $6.00 target price (down from $9.00) on shares of Playtika in a research report on Friday, February 28th. Finally, Bank of America raised Playtika from an "underperform" rating to a "buy" rating and boosted their price target for the stock from $6.00 to $6.50 in a research report on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $7.78.

Insider Activity at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 389,053 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 199,510,511 shares in the company, valued at approximately $937,699,401.70. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 739,922 shares of company stock valued at $3,548,194. 5.10% of the stock is currently owned by insiders.

Playtika Trading Up 0.2%

NASDAQ PLTK opened at $4.89 on Friday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 1.69 and a beta of 0.85. Playtika Holding Corp. has a twelve month low of $3.97 and a twelve month high of $8.99. The stock has a 50-day moving average of $4.96 and a 200 day moving average of $6.14.

Playtika (NASDAQ:PLTK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.02). Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. The business had revenue of $706.00 million during the quarter, compared to analyst estimates of $699.67 million. During the same period in the previous year, the company posted $0.14 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts predict that Playtika Holding Corp. will post 0.65 EPS for the current fiscal year.

Playtika Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 23rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $0.40 annualized dividend and a dividend yield of 8.18%. Playtika's dividend payout ratio 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.

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