BlackRock Inc. Makes New Investment in Playtika Holding Corp. $PLTK

Key Points

• BlackRock initiated a new Playtika position, purchasing 5.98 million shares worth approximately $22.2 million, representing about 1.57% of the company. Other institutions, including AQR Capital and Jane Street, also increased their holdings.
• Analyst sentiment is mixed: Playtika has an average “Hold” rating and a consensus price target of $4.00, with targets ranging from $2.75 to $4.00.
• Playtika shares opened at $2.24, near their one-year low of $2.09 and below both the 50-day and 200-day moving averages of roughly $3.3.

BlackRock Inc. purchased a new stake in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,975,811 shares of the company's stock, valued at approximately $22,230,000. BlackRock Inc. owned approximately 1.57% of Playtika at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. AQR Capital Management LLC lifted its position in Playtika by 65.7% during the second quarter. AQR Capital Management LLC now owns 6,331,123 shares of the company's stock worth $29,630,000 after buying an additional 2,511,228 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Playtika by 536.3% in the first quarter. Jane Street Group LLC now owns 1,354,552 shares of the company's stock valued at $7,003,000 after purchasing an additional 1,141,685 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Playtika by 20.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,972,998 shares of the company's stock worth $15,455,000 after purchasing an additional 679,564 shares during the last quarter. Qube Research & Technologies Ltd increased its position in Playtika by 217.8% during the third quarter. Qube Research & Technologies Ltd now owns 920,552 shares of the company's stock worth $3,581,000 after purchasing an additional 630,884 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Playtika by 19.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,708,556 shares of the company's stock worth $17,541,000 after purchasing an additional 595,494 shares during the period. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PLTK. Weiss Ratings reiterated a "sell (d)" rating on shares of Playtika in a report on Wednesday, August 26th. Roth Capital cut their price target on shares of Playtika from $3.50 to $2.75 and set a "neutral" rating for the company in a report on Monday. The Goldman Sachs Group set a $3.75 price target on shares of Playtika in a research report on Friday, August 7th. Wedbush upped their price objective on Playtika from $3.00 to $4.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Finally, TD Cowen reiterated a "buy" rating on shares of Playtika in a research report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.00.

Playtika Price Performance

Playtika stock opened at $2.24 on Thursday. The stock's fifty day moving average is $3.32 and its two-hundred day moving average is $3.28. The stock has a market cap of $854.38 million, a PE ratio of -3.07 and a beta of 1.00. Playtika Holding Corp. has a 1-year low of $2.09 and a 1-year high of $4.42.

Playtika Company Profile

Playtika Ltd. NASDAQ: PLTK is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika's platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company's diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.

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