Cresset Asset Management LLC Sells 61,907 Shares of Playtika Holding Corp. (NASDAQ:PLTK)

Cresset Asset Management LLC decreased its position in shares of Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 63.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,038 shares of the company's stock after selling 61,907 shares during the quarter. Cresset Asset Management LLC's holdings in Playtika were worth $251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crestline Management LP acquired a new position in shares of Playtika during the fourth quarter worth $71,000. Cubist Systematic Strategies LLC bought a new stake in shares of Playtika in the 4th quarter valued at about $1,479,000. Brevan Howard Capital Management LP acquired a new stake in shares of Playtika in the fourth quarter valued at about $207,000. BNP Paribas Financial Markets acquired a new stake in shares of Playtika in the fourth quarter valued at about $1,222,000. Finally, Ameriprise Financial Inc. raised its position in shares of Playtika by 17.7% during the fourth quarter. Ameriprise Financial Inc. now owns 131,377 shares of the company's stock worth $912,000 after acquiring an additional 19,710 shares during the last quarter. Institutional investors own 11.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLTK. Morgan Stanley decreased their target price on shares of Playtika from $7.25 to $5.75 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Robert W. Baird restated a "neutral" rating and issued a $6.00 target price (down previously from $9.00) on shares of Playtika in a report on Friday, February 28th. Macquarie decreased their price target on Playtika from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Wedbush reissued an "outperform" rating and issued a $11.50 price objective on shares of Playtika in a research note on Friday, May 2nd. Finally, Citigroup decreased their target price on Playtika from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Playtika presently has an average rating of "Hold" and an average target price of $7.78.

Insider Buying and Selling at Playtika

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $5.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the insider now directly owns 200,347,048 shares of the company's stock, valued at approximately $1,001,735,240. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.10% of the stock is currently owned by company insiders.

Playtika Price Performance

Shares of PLTK traded down $0.15 during trading hours on Wednesday, hitting $4.63. The stock had a trading volume of 1,762,791 shares, compared to its average volume of 1,162,221. Playtika Holding Corp. has a 1-year low of $3.97 and a 1-year high of $9.07. The firm has a market capitalization of $1.74 billion, a P/E ratio of 7.98, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. The firm has a 50 day simple moving average of $4.96 and a 200-day simple moving average of $6.47.

Playtika (NASDAQ:PLTK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $706.00 million during the quarter, compared to the consensus estimate of $699.67 million. Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. Equities analysts predict that Playtika Holding Corp. will post 0.65 EPS for the current fiscal year.

Playtika Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, June 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 8.64%. Playtika's dividend payout ratio (DPR) is presently 105.26%.

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.