Bank of New York Mellon Corp Decreases Position in Playtika Holding Corp. (NASDAQ:PLTK)

Key Points

• The Bank of New York Mellon Corp reduced its stake in Playtika Holding Corp. by 31.5%, selling 113,414 shares during the first quarter, leaving it with 246,672 shares worth approximately $1.3 million.
• Major shareholder Holding Uk Ltd Playtika II sold 389,053 shares at an average price of $4.70, resulting in a total transaction of approximately $1.83 million, which reflects a slight decrease in their position.
• Wall Street analysts have mixed ratings on Playtika, with a consensus average rating of "Moderate Buy" and a price target of $7.68, though estimates suggest earnings per share will be 0.65 for the current year.

Bank of New York Mellon Corp trimmed its position in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 31.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 246,672 shares of the company's stock after selling 113,414 shares during the period. Bank of New York Mellon Corp owned about 0.07% of Playtika worth $1,275,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vontobel Holding Ltd. acquired a new stake in Playtika during the 1st quarter worth $343,000. Monument Capital Management grew its holdings in Playtika by 48.1% during the first quarter. Monument Capital Management now owns 20,021 shares of the company's stock worth $104,000 after purchasing an additional 6,498 shares during the period. State of Alaska Department of Revenue grew its holdings in Playtika by 55.7% during the first quarter. State of Alaska Department of Revenue now owns 354,689 shares of the company's stock worth $1,833,000 after purchasing an additional 126,857 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Playtika during the first quarter worth approximately $311,000. Finally, SummerHaven Investment Management LLC boosted its holdings in shares of Playtika by 2.0% during the first quarter. SummerHaven Investment Management LLC now owns 103,334 shares of the company's stock worth $534,000 after acquiring an additional 2,006 shares during the period. 11.94% of the stock is currently owned by institutional investors.

Playtika Price Performance

Shares of PLTK stock traded down $0.18 on Friday, reaching $4.27. 1,680,509 shares of the company were exchanged, compared to its average volume of 1,194,532. Playtika Holding Corp. has a one year low of $3.97 and a one year high of $8.80. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.18 and a beta of 0.85. The company has a 50-day moving average of $4.72 and a 200-day moving average of $5.36.

Playtika (NASDAQ:PLTK - Get Free Report) last released its 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 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 the consensus estimate of $699.67 million. During the same period in the prior year, the company earned $0.14 earnings per share. The firm's revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Playtika Holding Corp. will post 0.65 EPS for the current year.

Playtika Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 23rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.4%. The ex-dividend date of this dividend was Monday, June 23rd. Playtika's dividend payout ratio (DPR) is presently 105.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PLTK shares. Wedbush upgraded shares of Playtika to a "strong-buy" rating in a research report on Tuesday, July 1st. Morgan Stanley lowered their price target on shares of Playtika from $7.25 to $5.75 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.68.

Insider Buying and Selling

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 389,053 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were 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 directly owned 199,510,511 shares of the company's stock, valued at $937,699,401.70. This trade represents a 0.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 739,922 shares of company stock valued at $3,548,194. 5.10% of the stock is owned by company insiders.

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.