The Manufacturers Life Insurance Company Buys 186,208 Shares of Playtika Holding Corp. $PLTK

Key Points

• The Manufacturers Life Insurance Company increased its stake in Playtika Holding Corp. by 6.4%, acquiring an additional 186,208 shares, bringing its total ownership to 3,113,062 shares valued at approximately $16.1 million.
• Playtika recently announced a $0.10 quarterly dividend with a yield of 11.1%, payable on October 10th, with record date set for September 26th.
• Analyst ratings for Playtika show a mixed outlook, with the stock receiving an average rating of "Hold" and a target price of $7.04 from several analysts.

The Manufacturers Life Insurance Company boosted its stake in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,113,062 shares of the company's stock after buying an additional 186,208 shares during the period. The Manufacturers Life Insurance Company owned 0.83% of Playtika worth $16,095,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PLTK. BNP Paribas Financial Markets acquired a new stake in shares of Playtika in the fourth quarter worth $1,222,000. Exchange Traded Concepts LLC acquired a new stake in shares of Playtika in the first quarter worth $311,000. Vontobel Holding Ltd. acquired a new stake in shares of Playtika in the first quarter worth $343,000. Deutsche Bank AG acquired a new stake in shares of Playtika in the fourth quarter worth $567,000. Finally, Quantinno Capital Management LP boosted its position in Playtika by 76.0% during the fourth quarter. Quantinno Capital Management LP now owns 692,975 shares of the company's stock valued at $4,809,000 after purchasing an additional 299,278 shares during the last quarter. Institutional investors and hedge funds own 11.94% of the company's stock.

Analyst Ratings Changes

PLTK has been the subject of a number of analyst reports. Wedbush reduced their price target on Playtika from $11.50 to $7.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Wall Street Zen raised Playtika from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.04.

Playtika Trading Up 1.2%

NASDAQ PLTK traded up $0.05 during trading hours on Tuesday, reaching $3.82. 471,345 shares of the company's stock were exchanged, compared to its average volume of 1,740,372. The stock has a market cap of $1.43 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. The firm has a fifty day moving average of $4.23 and a 200-day moving average of $4.71. Playtika Holding Corp. has a one year low of $3.52 and a one year high of $8.80.

Playtika (NASDAQ:PLTK - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.13). The company had revenue of $696.00 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 EPS. Playtika has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current year.

Playtika Announces Dividend

The company 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 $0.10 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.40 annualized dividend and a dividend yield of 10.5%. Playtika's dividend payout ratio (DPR) is currently 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.