Edgestream Partners L.P. Trims Stake in Playtika Holding Corp. (NASDAQ:PLTK)

Edgestream Partners L.P. decreased its position in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 20.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 329,183 shares of the company's stock after selling 86,718 shares during the period. Edgestream Partners L.P. owned 0.09% of Playtika worth $1,702,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Covestor Ltd increased its position in shares of Playtika by 11.4% during the fourth quarter. Covestor Ltd now owns 14,103 shares of the company's stock worth $98,000 after purchasing an additional 1,447 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Playtika by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock worth $29,000 after acquiring an additional 1,534 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Playtika by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company's stock worth $3,726,000 after acquiring an additional 1,639 shares during the last quarter. SummerHaven Investment Management LLC increased 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 valued at $534,000 after acquiring an additional 2,006 shares in the last quarter. Finally, Invesco Ltd. grew its position in Playtika by 3.0% during the 4th quarter. Invesco Ltd. now owns 78,390 shares of the company's stock worth $544,000 after purchasing an additional 2,304 shares during the last quarter. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Playtika Price Performance

Shares of NASDAQ:PLTK traded up $0.23 during trading hours on Tuesday, hitting $4.72. 1,806,185 shares of the company's stock traded hands, compared to its average volume of 1,263,370. The firm has a market capitalization of $1.77 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.19 and a beta of 0.85. The business has a fifty day moving average price of $4.78 and a 200-day moving average price of $5.50. Playtika Holding Corp. has a 1 year low of $3.97 and a 1 year high of $8.80.

Playtika (NASDAQ:PLTK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). Playtika had a net margin of 5.37% and a negative return on equity of 149.09%. The business had revenue of $706.00 million for the quarter, compared to analysts' expectations of $699.67 million. During the same quarter in the prior year, the company posted $0.14 EPS. The business's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts predict that Playtika Holding Corp. will post 0.65 earnings per share for the current year.

Playtika Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 23rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.40 annualized dividend and a dividend yield of 8.47%. Playtika's payout ratio is 105.26%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLTK. Bank of America raised Playtika from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $6.00 to $6.50 in a research report on Wednesday, March 26th. Morgan Stanley dropped their price target on Playtika from $7.25 to $5.75 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Finally, Wedbush upgraded shares of Playtika to a "strong-buy" rating in a research note on Tuesday, July 1st. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $7.68.

Insider Activity

In other news, major shareholder Holding Uk Ltd Playtika II sold 150,869 shares of the company's 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 of the company's stock, valued at approximately $950,945,492.34. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 739,922 shares of company stock valued at $3,548,194 over the last ninety days. Corporate insiders own 4.80% of the company's stock.

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.