Playtika Holding Corp. (NASDAQ:PLTK) Stake Lessened by Bessemer Group Inc.

Bessemer Group Inc. trimmed its position in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 68.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other institutional investors have also modified their holdings of PLTK. BNP Paribas Financial Markets acquired a new position in Playtika during the fourth quarter valued at approximately $1,222,000. Exchange Traded Concepts LLC acquired a new position in shares of Playtika during the 1st quarter valued at $311,000. Deutsche Bank AG purchased a new stake in Playtika during the 4th quarter worth $567,000. Quantinno Capital Management LP raised its position in Playtika by 76.0% in the fourth quarter. Quantinno Capital Management LP now owns 692,975 shares of the company's stock valued at $4,809,000 after purchasing an additional 299,278 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake 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. Hedge funds and other institutional investors own 11.94% of the company's stock.

Analyst Upgrades and Downgrades

PLTK has been the subject of a number of recent analyst reports. Bank of America raised shares of Playtika from an "underperform" rating to a "buy" rating and raised their price target for the company from $6.00 to $6.50 in a report on Wednesday, March 26th. Morgan Stanley reduced their target price 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. Wedbush restated an "outperform" rating and issued a $11.50 price target on shares of Playtika in a research note on Friday, May 2nd. Finally, Citigroup cut their price target on shares of Playtika from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.68.

Insiders Place Their Bets

In other 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 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 Playtika stock traded up $0.10 on Wednesday, hitting $5.00. The company had a trading volume of 2,146,454 shares, compared to its average volume of 1,239,905. Playtika Holding Corp. has a 52 week low of $3.97 and a 52 week high of $8.80. The company has a market cap of $1.88 billion, a PE ratio of 13.16, a PEG ratio of 1.26 and a beta of 0.85. The business has a 50-day simple moving average of $4.89 and a 200-day simple moving average of $5.71.

Playtika (NASDAQ:PLTK - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $706.00 million during the quarter, compared to analyst estimates of $699.67 million. Playtika had a net margin of 5.37% and a negative return on equity of 149.09%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. On average, equities research analysts predict that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Playtika Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 23rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 8.00%. The ex-dividend date of this dividend is Monday, June 23rd. Playtika's payout ratio is 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.