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

A number of other institutional investors also recently modified their holdings of PLTK. Allworth Financial LP boosted its holdings 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 purchasing an additional 2,695 shares during the period. Sterling Capital Management LLC boosted its holdings 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 purchasing an additional 1,534 shares during the period. US Bancorp DE raised its stake in Playtika by 280.9% in the first quarter. US Bancorp DE now owns 6,707 shares of the company's stock worth $35,000 after buying an additional 4,946 shares in the last quarter. Crestline Management LP bought a new position in Playtika in the fourth quarter worth about $71,000. Finally, R Squared Ltd raised its stake in Playtika by 84.2% in the first quarter. R Squared Ltd now owns 15,090 shares of the company's stock worth $78,000 after buying an additional 6,900 shares in the last quarter. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLTK has been the subject of a number of research reports. Wedbush decreased their price target on shares of Playtika from $11.50 to $7.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Wall Street Zen raised shares of Playtika from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley decreased their price target on shares of Playtika from $7.25 to $5.75 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.04.

Playtika Stock Up 1.3%

Shares of PLTK stock traded up $0.05 during trading hours on Friday, hitting $3.64. 786,828 shares of the company's stock traded hands, compared to its average volume of 1,695,143. The stock's fifty day simple moving average is $4.58 and its two-hundred day simple moving average is $5.17. Playtika Holding Corp. has a 12-month low of $3.52 and a 12-month high of $8.80. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.27 and a beta of 0.85.

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

Playtika Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given 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 11.0%. Playtika's dividend payout ratio (DPR) is 166.67%.

Insider Buying and Selling at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 150,869 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $4.77, for a total transaction of $719,645.13. Following the completion of the sale, the insider owned 199,359,642 shares of the company's stock, valued at $950,945,492.34. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is owned by company insiders.

Playtika 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.