New Vernon Capital Holdings II LLC Invests $849,000 in Playtika Holding Corp. $PLTK

Key Points

• New Vernon Capital Holdings II LLC invested $849,000 in Playtika Holding Corp. by acquiring 164,184 shares during the 1st quarter.
• Playtika's recent quarterly earnings showed a report of $0.02 EPS, missing the consensus estimate of $0.15, with revenues of $696 million compared to expectations of $706 million.
• The company declared a quarterly dividend of $0.10, which will be paid on October 10th, resulting in a 10.8% annualized dividend yield.

New Vernon Capital Holdings II LLC purchased a new position in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 164,184 shares of the company's stock, valued at approximately $849,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Playtika by 12.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 102,781 shares of the company's stock worth $531,000 after purchasing an additional 11,650 shares during the period. Amundi lifted its position in shares of Playtika by 160.0% in the 1st quarter. Amundi now owns 51,366 shares of the company's stock worth $256,000 after purchasing an additional 31,607 shares during the period. Quarry LP acquired a new position in shares of Playtika in the 1st quarter worth approximately $29,000. DRW Securities LLC acquired a new position in shares of Playtika in the 1st quarter worth approximately $303,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Playtika by 6.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,113,062 shares of the company's stock valued at $16,095,000 after acquiring an additional 186,208 shares during the period. Institutional investors and hedge funds own 11.94% of the company's stock.

Playtika Stock Down 2.8%

PLTK traded down $0.11 during trading on Wednesday, hitting $3.70. 438,891 shares of the company's stock were exchanged, compared to its average volume of 1,739,178. The business's 50 day moving average is $4.21 and its two-hundred day moving average is $4.70. Playtika Holding Corp. has a fifty-two week low of $3.52 and a fifty-two week high of $8.80. The stock has a market cap of $1.39 billion, a P/E ratio of 15.40, a PEG ratio of 1.27 and a beta of 0.84.

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

Playtika Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 26th. This represents a $0.40 annualized dividend and a yield of 10.8%. Playtika's dividend payout ratio is presently 166.67%.

Wall Street Analysts Forecast Growth

PLTK has been the topic of a number of research reports. Wall Street Zen upgraded shares of Playtika from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Wedbush dropped their target price on shares of Playtika from $11.50 to $7.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $7.04.

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.