Bessemer Group Inc. Cuts Holdings in Playtika Holding Corp. (NASDAQ:PLTK)

Bessemer Group Inc. trimmed its stake in shares of Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 68.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,430 shares of the company's stock after selling 268,570 shares during the quarter. Bessemer Group Inc.'s holdings in Playtika were worth $628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its stake in Playtika by 57.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock worth $29,000 after purchasing an additional 1,534 shares in the last quarter. Crestline Management LP acquired a new position in shares of Playtika during the 4th quarter worth about $71,000. Aster Capital Management DIFC Ltd boosted its position 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 worth $78,000 after acquiring an additional 11,164 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Playtika during the 4th quarter worth about $85,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Playtika during the 4th quarter worth about $87,000. 11.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 150,869 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $4.77, for a total transaction of $719,645.13. Following the sale, the insider owned 199,359,642 shares in the company, valued at approximately $950,945,492.34. This represents a 0.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 739,922 shares of company stock worth $3,548,194. 5.10% of the stock is currently owned by corporate insiders.

Playtika Price Performance

NASDAQ PLTK traded down $0.04 on Friday, hitting $4.97. 738,080 shares of the company's stock were exchanged, compared to its average volume of 1,240,169. The firm's 50-day moving average price is $4.88 and its two-hundred day moving average price is $5.66. Playtika Holding Corp. has a fifty-two week low of $3.97 and a fifty-two week high of $8.80. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 1.32 and a beta of 0.85.

Playtika (NASDAQ:PLTK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The business 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 149.09% and a net margin of 5.37%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. 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 company 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.06%. The ex-dividend date is Monday, June 23rd. Playtika's dividend payout ratio is currently 105.26%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PLTK shares. 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 report on Thursday, April 17th. Wedbush raised Playtika to a "strong-buy" rating in a report on Tuesday. Bank of America raised Playtika from an "underperform" rating to a "buy" rating and boosted their target price for the company from $6.00 to $6.50 in a report on Wednesday, March 26th. Finally, Citigroup reduced their target price on Playtika from $10.00 to $9.00 and set a "buy" rating for the company in a report on Friday, March 7th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.68.

Playtika 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.