LSV Asset Management Sells 347,399 Shares of Playtika Holding Corp. (NASDAQ:PLTK)

Key Points

• LSV Asset Management has reduced its stake in Playtika Holding Corp. by 4.9%, owning approximately 6.68 million shares valued at $34.51 million.
• Playtika recently reported earnings of $0.09 per share for the quarter, falling short of analyst expectations, though its revenue increased by 8.4% year-over-year.
• The company announced a quarterly dividend of $0.10 per share, yielding 9.4%, despite having a dividend payout ratio of 105.26%.

LSV Asset Management cut its holdings in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,675,368 shares of the company's stock after selling 347,399 shares during the quarter. LSV Asset Management owned about 1.78% of Playtika worth $34,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PLTK. Allworth Financial LP increased its position in shares of Playtika by 117.1% during 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 during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Playtika by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock valued at $29,000 after buying an additional 1,534 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Playtika by 280.9% in the 1st quarter. US Bancorp DE now owns 6,707 shares of the company's stock valued at $35,000 after buying an additional 4,946 shares during the last quarter. Crestline Management LP acquired a new stake in shares of Playtika in the 4th quarter valued at approximately $71,000. Finally, Aster Capital Management DIFC Ltd boosted its holdings in shares of Playtika by 7,917.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 11,305 shares of the company's stock valued at $78,000 after buying an additional 11,164 shares during the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Playtika Stock Performance

PLTK traded down $0.07 during trading hours on Wednesday, reaching $4.35. The company's stock had a trading volume of 1,865,082 shares, compared to its average volume of 1,244,997. Playtika Holding Corp. has a 52 week low of $3.97 and a 52 week high of $8.80. The company's 50-day moving average is $4.72 and its 200-day moving average is $5.31. The firm has a market cap of $1.63 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.17 and a beta of 0.85.

Playtika (NASDAQ:PLTK - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $699.67 million. Playtika had a negative return on equity of 149.09% and a net margin of 5.37%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Equities analysts anticipate that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 389,053 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $4.70, for a total transaction of $1,828,549.10. Following the transaction, the insider owned 199,510,511 shares in the company, valued at $937,699,401.70. This trade represents a 0.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 739,922 shares of company stock worth $3,548,194. 5.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLTK. Wedbush raised Playtika to a "strong-buy" rating in a report on Tuesday, July 1st. Morgan Stanley cut their price objective on Playtika from $7.25 to $5.75 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $7.68.

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.