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

Cresset Asset Management LLC cut its holdings in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 63.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. grew its position in shares of Playtika by 43.4% in the 4th quarter. Russell Investments Group Ltd. now owns 260,040 shares of the company's stock valued at $1,812,000 after purchasing an additional 78,716 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Playtika by 23,814.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company's stock valued at $4,592,000 after acquiring an additional 663,700 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Playtika in the 4th quarter valued at approximately $1,222,000. Sei Investments Co. lifted its stake in Playtika by 341.2% in the 4th quarter. Sei Investments Co. now owns 76,403 shares of the company's stock valued at $530,000 after acquiring an additional 59,084 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Playtika by 76.2% in the 4th quarter. SG Americas Securities LLC now owns 175,008 shares of the company's stock valued at $1,215,000 after acquiring an additional 75,702 shares in the last quarter. 11.94% of the stock is currently owned by institutional investors and hedge funds.

Playtika Stock Down 1.3%

Shares of PLTK traded down $0.06 during trading hours on Friday, hitting $4.51. 1,115,571 shares of the company were exchanged, compared to its average volume of 1,169,750. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 1.69 and a beta of 0.91. Playtika Holding Corp. has a fifty-two week low of $3.97 and a fifty-two week high of $9.07. The firm's fifty day moving average is $4.96 and its 200 day moving average is $6.41.

Playtika (NASDAQ:PLTK - Get Free Report) last released its 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 company had revenue of $706.00 million for the quarter, compared to analyst estimates of $699.67 million. Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. Analysts anticipate that Playtika Holding Corp. will post 0.65 EPS for the current year.

Playtika Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 23rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 8.87%. The ex-dividend date of this dividend is Monday, June 23rd. Playtika's dividend payout ratio (DPR) is presently 105.26%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PLTK. Morgan Stanley dropped their price objective 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. Wedbush reissued an "outperform" rating and set a $11.50 target price on shares of Playtika in a report on Friday, May 2nd. Bank of America raised Playtika from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $6.00 to $6.50 in a report on Wednesday, March 26th. Robert W. Baird reissued a "neutral" rating and set a $6.00 target price (down from $9.00) on shares of Playtika in a report on Friday, February 28th. Finally, Baird R W lowered Playtika from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $7.78.

Insider Activity at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 200,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $5.00, for a total value of $1,000,000.00. Following the sale, the insider now directly owns 200,347,048 shares of the company's stock, valued at $1,001,735,240. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.10% of the stock is currently owned by insiders.

Playtika 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.