State of Alaska Department of Revenue Sells 354,689 Shares of Playtika Holding Corp. $PLTK

Key Points

• State of Alaska Department of Revenue sold 354,689 shares of Playtika, trimming its Q4 stake by 96.6% to 12,353 shares worth about $48,000.
• Playtika posted a sharp earnings miss, reporting ($0.82) EPS versus a $0.14 consensus despite revenue of $678.8M that beat estimates, and the company showed negative net margin and negative ROE.
• Analysts have grown cautious: multiple firms cut ratings and price targets, leaving a consensus "Hold" rating with an average target of $4.10 while the stock trades near $3.40 and the company has a ~$1.29B market cap.

State of Alaska Department of Revenue trimmed its holdings in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 96.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,353 shares of the company's stock after selling 354,689 shares during the period. State of Alaska Department of Revenue's holdings in Playtika were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Signaturefd LLC increased its stake in Playtika by 129.8% during the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company's stock worth $36,000 after acquiring an additional 5,147 shares during the period. Jackson Thornton Wealth Management LLC bought a new stake in shares of Playtika during the 3rd quarter valued at $38,000. Orion Porfolio Solutions LLC acquired a new stake in shares of Playtika during the 3rd quarter worth $45,000. NorthCrest Asset Manangement LLC acquired a new stake in shares of Playtika during the 3rd quarter worth $46,000. Finally, Earned Wealth Advisors LLC bought a new position in shares of Playtika in the fourth quarter worth $46,000. 11.94% of the stock is currently owned by institutional investors.

Playtika Price Performance

Shares of PLTK stock opened at $3.40 on Monday. The business has a fifty day simple moving average of $3.08 and a 200 day simple moving average of $3.56. The company has a market cap of $1.29 billion, a P/E ratio of -6.30 and a beta of 0.88. Playtika Holding Corp. has a twelve month low of $2.64 and a twelve month high of $5.59.

Playtika (NASDAQ:PLTK - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.96). Playtika had a negative return on equity of 114.29% and a negative net margin of 7.49%.The business had revenue of $678.80 million for the quarter, compared to analyst estimates of $660.32 million. During the same period in the previous year, the firm posted ($0.04) EPS. The firm's revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Playtika Holding Corp. will post 0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Playtika from a "buy" rating to a "hold" rating in a research report on Sunday, January 25th. Weiss Ratings lowered shares of Playtika from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, March 2nd. Wedbush cut shares of Playtika from an "outperform" rating to a "neutral" rating and set a $3.00 target price for the company. in a research report on Monday, March 2nd. The Goldman Sachs Group cut their price target on shares of Playtika from $4.75 to $4.25 and set a "neutral" rating for the company in a report on Monday, March 2nd. Finally, Citigroup reduced their price target on shares of Playtika from $7.00 to $5.50 and set a "buy" rating on the stock in a research report on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $4.10.

Playtika Company Profile

Playtika Ltd. NASDAQ: PLTK is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika's platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company's diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.

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