Playtika Holding Corp. $PLTK Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Playtika Holding Corp. by 28.2%, selling 326,953 shares and now holding 833,853 shares valued at approximately $4.31 million.
• Analysts have mixed views on Playtika, with Wall Street Zen upgrading it to a "buy" rating, while Wedbush reduced its price target from $11.50 to $7.00, resulting in a consensus rating of "hold."
• Playtika recently announced a quarterly dividend of $0.10 per share, representing a yield of 10.6% with a dividend payout ratio of 166.67%.

Jacobs Levy Equity Management Inc. lessened its stake in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 28.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 833,853 shares of the company's stock after selling 326,953 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.22% of Playtika worth $4,311,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PLTK. Allworth Financial LP boosted its position in Playtika by 117.1% in the 1st quarter. Allworth Financial LP now owns 4,996 shares of the company's stock worth $26,000 after purchasing an additional 2,695 shares in the last quarter. Quarry LP acquired a new position in shares of Playtika during the 1st quarter worth approximately $29,000. US Bancorp DE raised its stake in shares of Playtika by 280.9% during the 1st quarter. US Bancorp DE now owns 6,707 shares of the company's stock worth $35,000 after buying an additional 4,946 shares during the period. Brooklyn Investment Group raised its stake in shares of Playtika by 15,890.5% during the 1st quarter. Brooklyn Investment Group now owns 6,716 shares of the company's stock worth $35,000 after buying an additional 6,674 shares during the period. Finally, CreativeOne Wealth LLC acquired a new position in shares of Playtika during the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 11.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLTK. Wall Street Zen raised Playtika from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. UBS Group reduced their target price on Playtika from $5.50 to $4.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Wedbush reduced their target price on Playtika from $11.50 to $7.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.66.

Playtika Price Performance

NASDAQ PLTK traded up $0.07 during mid-day trading on Friday, hitting $3.75. The stock had a trading volume of 1,960,527 shares, compared to its average volume of 1,950,187. The firm's 50 day moving average is $4.13 and its 200 day moving average is $4.63. Playtika Holding Corp. has a twelve month low of $3.52 and a twelve month high of $8.80. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.26 and a beta of 0.84.

Playtika (NASDAQ:PLTK - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.13). Playtika had a net margin of 3.23% and a negative return on equity of 83.90%. The firm had revenue of $696.00 million during the quarter, compared to analyst estimates of $706.03 million. During the same period in the prior year, the company posted $0.23 earnings per share. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. Playtika has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Playtika Holding Corp. will post 0.65 earnings per share for the current year.

Playtika Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.7%. Playtika's dividend payout ratio (DPR) is 166.67%.

About Playtika

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.