Playtika Holding Corp. $PLTK Stock: CWA Asset Management Group LLC Cuts Stake

Key Points

• CWA Asset Management Group cut its Playtika stake by 97.5% in the third quarter, selling 681,031 shares and retaining 17,123 shares valued at approximately $37,000.
• Playtika shares opened at $2.07, near their 52-week low of $2.01, with a market capitalization of about $789.5 million. The stock’s 50-day and 200-day moving averages were $2.24 and $3.08, respectively.
• Analysts maintain a consensus “Hold” rating with an average price target of $3.67, although targets range from $2.75 to $4.25. Institutional investors and hedge funds collectively own 11.94% of the company.

CWA Asset Management Group LLC lowered its holdings in shares of Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 97.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,123 shares of the company's stock after selling 681,031 shares during the quarter. CWA Asset Management Group LLC's holdings in Playtika were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. bought a new position in Playtika during the second quarter valued at about $22,230,000. Man Group plc acquired a new stake in shares of Playtika in the second quarter worth about $2,554,000. Tidal Investments LLC boosted its stake in shares of Playtika by 153.0% during the 2nd quarter. Tidal Investments LLC now owns 353,984 shares of the company's stock worth $1,317,000 after acquiring an additional 214,093 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Playtika during the 2nd quarter worth about $946,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Playtika by 62.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 165,394 shares of the company's stock worth $615,000 after acquiring an additional 63,717 shares in the last quarter. Institutional investors and hedge funds own 11.94% of the company's stock.

Playtika Stock Performance

Playtika stock opened at $2.07 on Friday. Playtika Holding Corp. has a 52 week low of $2.01 and a 52 week high of $4.42. The firm has a market capitalization of $789.54 million, a PE ratio of -2.84 and a beta of 1.07. The business's 50-day simple moving average is $2.24 and its 200-day simple moving average is $3.08.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PLTK shares. The Goldman Sachs Group set a $3.75 price objective on Playtika in a research note on Friday, August 7th. Morgan Stanley set a $4.25 target price on Playtika in a report on Monday, August 10th. Roth Capital decreased their target price on Playtika from $3.50 to $2.75 and set a "neutral" rating for the company in a research report on Monday, August 31st. Wall Street Zen cut Playtika from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Finally, Citigroup lowered their price target on Playtika from $4.00 to $3.50 and set a "buy" rating on the stock in a report on Wednesday, October 14th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $3.67.

About Playtika

Playtika Holding Corp. is a digital entertainment company that develops and operates free-to-play mobile and web games. Its business focuses on social casino, casual, and other interactive gaming experiences that generate revenue through in-game purchases and advertising.

Playtika's portfolio has included widely recognized titles such as Slotomania, Bingo Blitz, House of Fun, Caesars Slots, and World Series of Poker. The company uses data analytics, live-operations capabilities, and ongoing content updates to engage players and support the long-term performance of its games.

Founded in 2010, Playtika initially helped pioneer free-to-play social casino gaming on social networks and later expanded into mobile platforms.

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