Playtika Holding Corp. (NASDAQ:PLTK) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in shares of Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 79.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 140,014 shares of the company's stock after selling 544,951 shares during the period. Bank of America Corp DE's holdings in Playtika were worth $972,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PLTK. Sterling Capital Management LLC raised 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 buying an additional 1,534 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Playtika by 7,917.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 11,305 shares of the company's stock valued at $78,000 after buying an additional 11,164 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Playtika during the 4th quarter valued at about $84,000. Aigen Investment Management LP acquired a new stake in shares of Playtika during the 4th quarter valued at about $85,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Playtika during the 4th quarter valued at about $87,000. Hedge funds and other institutional investors own 11.94% of the company's stock.

Insider Transactions at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 389,053 shares of the company's 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 739,922 shares of company stock worth $3,548,194 in the last ninety days. Insiders own 5.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PLTK shares. Wedbush restated an "outperform" rating and set a $11.50 target price on shares of Playtika in a research report on Friday, May 2nd. Macquarie dropped their target price on Playtika from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, February 28th. Citigroup dropped their target price on Playtika from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Morgan Stanley dropped their target price on Playtika from $7.25 to $5.75 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, Baird R W cut Playtika from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Playtika has a consensus rating of "Hold" and a consensus target price of $7.78.

Playtika Stock Down 1.4%

Shares of Playtika stock traded down $0.07 on Wednesday, hitting $4.83. 1,113,611 shares of the company were exchanged, compared to its average volume of 1,183,335. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 1.69 and a beta of 0.85. The company has a 50-day moving average price of $4.94 and a 200 day moving average price of $6.08. Playtika Holding Corp. has a 1-year low of $3.97 and a 1-year high of $8.99.

Playtika (NASDAQ:PLTK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). The company had revenue of $706.00 million for the quarter, compared to analyst estimates of $699.67 million. Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Research analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current year.

Playtika Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 8.28%. The ex-dividend date is Monday, June 23rd. Playtika's dividend payout ratio is currently 105.26%.

Playtika Company Profile

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.