Denali Advisors LLC Grows Stock Holdings in Playtika Holding Corp. $PLTK

Key Points

• Denali Advisors LLC boosted its Playtika stake by 44% in the fourth quarter, adding 340,100 shares and bringing its total holdings to 1,112,314 shares worth about $4.39 million.
• Playtika’s latest quarterly results missed earnings expectations, reporting a loss of $0.15 per share versus the expected $0.07 profit, even though revenue came in above estimates at $744.7 million and rose 5.5% year over year.
• Wall Street sentiment remains cautious on PLTK, with analysts holding an average “Hold” rating and an average price target of $4.10 after several target cuts and rating downgrades.

Denali Advisors LLC increased its stake in shares of Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 44.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,112,314 shares of the company's stock after purchasing an additional 340,100 shares during the period. Denali Advisors LLC owned approximately 0.30% of Playtika worth $4,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Wolverine Asset Management LLC raised its holdings in shares of Playtika by 3.9% during the fourth quarter. Wolverine Asset Management LLC now owns 266,015 shares of the company's stock valued at $1,051,000 after purchasing an additional 10,000 shares during the last quarter. Comerica Bank increased its holdings in Playtika by 278.9% during the fourth quarter. Comerica Bank now owns 9,108 shares of the company's stock valued at $36,000 after buying an additional 6,704 shares during the last quarter. HB Wealth Management LLC purchased a new stake in Playtika during the fourth quarter valued at approximately $55,000. Earned Wealth Advisors LLC purchased a new stake in Playtika during the fourth quarter valued at approximately $46,000. Finally, Merit Financial Group LLC increased its holdings in Playtika by 38.2% during the fourth quarter. Merit Financial Group LLC now owns 31,910 shares of the company's stock valued at $126,000 after buying an additional 8,825 shares during the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

Playtika Price Performance

Shares of NASDAQ PLTK opened at $3.63 on Friday. The firm has a fifty day moving average price of $3.11 and a 200-day moving average price of $3.56. The stock has a market cap of $1.38 billion, a PE ratio of -4.71 and a beta of 1.08. Playtika Holding Corp. has a 1 year low of $2.64 and a 1 year high of $5.34.

Playtika (NASDAQ:PLTK - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.22). The firm had revenue of $744.70 million during the quarter, compared to analysts' expectations of $694.69 million. Playtika had a negative return on equity of 91.41% and a negative net margin of 10.54%.The business's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. On average, research analysts expect that Playtika Holding Corp. will post 0.57 EPS for the current year.

Wall Street Analyst Weigh In

PLTK has been the subject of a number of research reports. The Goldman Sachs Group reduced their target price on shares of Playtika from $4.75 to $4.25 and set a "neutral" rating for the company in a report on Monday, March 2nd. Citigroup reduced their target price on shares of Playtika from $7.00 to $5.50 and set a "buy" rating for the company in a report on Friday, February 20th. Wedbush cut shares of Playtika from an "outperform" rating to a "neutral" rating and set a $3.00 target price for the company. in a report on Monday, March 2nd. Weiss Ratings cut shares of Playtika from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, March 2nd. Finally, Wall Street Zen cut shares of Playtika from a "buy" rating to a "hold" rating in a report on Sunday, January 25th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $4.10.

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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