AQR Capital Management LLC Trims Position in Playtika Holding Corp. $PLTK

Key Points

• AQR Capital Management LLC reduced its stake in Playtika Holding Corp. by 41.5% to approximately $19.67 million, owning about 3.82 million shares after selling 2.7 million shares in the first quarter.
• Recent earnings reported a miss on EPS with Playtika posting $0.02, lower than the consensus of $0.15, alongside quarterly revenue of $696 million, falling short of expectations by $10 million.
• The company announced a quarterly dividend of $0.10 per share, yielding about 10.9%, with the payment date set for October 10th for shareholders record by September 26th.

AQR Capital Management LLC lessened its position in shares of Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 41.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,819,895 shares of the company's stock after selling 2,709,364 shares during the period. AQR Capital Management LLC owned 1.02% of Playtika worth $19,672,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PLTK. Allworth Financial LP raised its stake in Playtika by 117.1% in the 1st quarter. Allworth Financial LP now owns 4,996 shares of the company's stock valued at $26,000 after acquiring an additional 2,695 shares during the period. Quarry LP bought a new stake in shares of Playtika in the first quarter valued at approximately $29,000. US Bancorp DE raised its position in shares of Playtika by 280.9% in the first quarter. US Bancorp DE now owns 6,707 shares of the company's stock valued at $35,000 after purchasing an additional 4,946 shares during the period. Brooklyn Investment Group lifted 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 valued at $35,000 after buying an additional 6,674 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new position in Playtika in the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 11.94% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLTK. UBS Group lowered their target price on shares of Playtika from $5.50 to $4.00 and set a "neutral" rating on the stock in a report on Thursday. Wedbush cut 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. Finally, Wall Street Zen raised Playtika from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.66.

Playtika Trading Up 1.9%

Shares of NASDAQ:PLTK traded up $0.07 during trading on Friday, reaching $3.75. The company had a trading volume of 1,960,527 shares, compared to its average volume of 1,989,132. Playtika Holding Corp. has a 12 month low of $3.52 and a 12 month high of $8.80. The company has a fifty day moving average of $4.13 and a two-hundred day moving average of $4.63. The stock has a market capitalization of $1.41 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

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

Playtika Dividend Announcement

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

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.