Wolverine Asset Management LLC Invests $667,000 in Playtika Holding Corp. (NASDAQ:PLTK)

Key Points

• Wolverine Asset Management LLC has acquired a new stake in Playtika Holding Corp., purchasing 129,025 shares valued at approximately $667,000 during the first quarter.
• Analysts have mixed views on Playtika, with Morgan Stanley lowering its price target to $5.75 while Wall Street Zen upgraded the stock from "hold" to "buy," making the consensus rating "Hold" with a target price of $7.04.
• Playtika announced a quarterly dividend of $0.10 per share, representing a 10.5% yield, as insiders have recently sold 739,922 shares worth approximately $3.5 million.

Wolverine Asset Management LLC acquired a new stake in Playtika Holding Corp. (NASDAQ:PLTK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 129,025 shares of the company's stock, valued at approximately $667,000.

Several other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC lifted its position in shares of Playtika by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company's stock worth $29,000 after acquiring an additional 1,534 shares in the last quarter. Allworth Financial LP lifted its position in shares of Playtika by 117.1% during the first quarter. Allworth Financial LP now owns 4,996 shares of the company's stock worth $26,000 after acquiring an additional 2,695 shares in the last quarter. US Bancorp DE lifted its position in shares of Playtika by 280.9% during the first quarter. US Bancorp DE now owns 6,707 shares of the company's stock worth $35,000 after acquiring an additional 4,946 shares in the last quarter. Crestline Management LP purchased a new stake in shares of Playtika during the fourth quarter worth $71,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Playtika during the fourth quarter worth $104,000. Hedge funds and other institutional investors own 11.94% of the company's stock.

Insider Activity

In other news, major shareholder Holding Uk Ltd Playtika II sold 389,053 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $4.70, for a total transaction of $1,828,549.10. Following the transaction, the insider directly owned 199,510,511 shares of the company's stock, valued at approximately $937,699,401.70. This trade represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

PLTK has been the topic of several recent research reports. Morgan Stanley dropped their target price on Playtika from $7.25 to $5.75 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Wedbush decreased their price target on shares of Playtika from $11.50 to $7.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, Wall Street Zen raised shares of Playtika from a "hold" rating to a "buy" rating in a report on Saturday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $7.04.

Playtika Stock Performance

PLTK traded down $0.03 during trading on Wednesday, reaching $3.78. The stock had a trading volume of 1,449,064 shares, compared to its average volume of 1,697,222. The stock has a market cap of $1.42 billion, a PE ratio of 15.75, a PEG ratio of 1.27 and a beta of 0.85. Playtika Holding Corp. has a one year low of $3.65 and a one year high of $8.80. The business has a 50-day moving average of $4.63 and a 200-day moving average of $5.20.

Playtika (NASDAQ:PLTK - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.13). Playtika had a net margin of 3.23% and a negative return on equity of 83.90%. The company had revenue of $696.00 million for the quarter, compared to the consensus estimate of $706.03 million. During the same period last year, the business posted $0.23 earnings per share. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current fiscal year.

Playtika Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date of this dividend is Friday, September 26th. 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.