Playtika (NASDAQ:PLTK) CTO Uri Rubin Sells 220,000 Shares of Company Stock

Key Points

• CTO Uri Rubin sold 220,000 Playtika shares for $554,400, reducing his position by 31% to 489,352 shares.
• Playtika beat quarterly EPS and revenue expectations, reporting $0.32 per share and $673.8 million in revenue; revenue was down 0.1% year over year.
• Analysts’ consensus rating was Hold, with a $3.35 average price target. Shares traded at $2.73 in the article’s report.

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) CTO Uri Rubin sold 220,000 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $2.52, for a total value of $554,400.00. Following the sale, the chief technology officer owned 489,352 shares in the company, valued at $1,233,167.04. The trade was a 31.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Playtika Price Performance

Shares of NASDAQ:PLTK traded up $0.14 during midday trading on Tuesday, reaching $2.73. The company's stock had a trading volume of 1,612,406 shares, compared to its average volume of 1,554,771. The business's fifty day simple moving average is $2.19 and its 200-day simple moving average is $3.04. Playtika Holding Corp. has a fifty-two week low of $1.88 and a fifty-two week high of $4.42. The company has a market capitalization of $1.04 billion, a P/E ratio of -3.74 and a beta of 1.08.

Playtika (NASDAQ:PLTK - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.10. The business had revenue of $673.80 million for the quarter, compared to the consensus estimate of $666.98 million. Playtika had a negative net margin of 9.89% and a negative return on equity of 65.82%. The firm's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, analysts forecast that Playtika Holding Corp. will post 0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on PLTK shares. The Goldman Sachs Group set a $3.75 price objective on Playtika in a report on Friday, August 7th. Wedbush reduced their target price on shares of Playtika from $4.00 to $3.00 and set a "neutral" rating on the stock in a research note on Friday. Wall Street Zen cut shares of Playtika from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Roth Capital lowered their price target on shares of Playtika from $3.50 to $2.75 and set a "neutral" rating for the company in a research report on Monday, August 31st. Finally, Citigroup dropped their price target on shares of Playtika from $3.50 to $3.00 and set a "buy" rating for the company in a research note on Thursday, October 29th. Two equities 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.35.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Independent Financial Group LLC bought a new position in Playtika during the 1st quarter worth approximately $28,000. Sanctuary Advisors LLC bought a new stake in Playtika in the second quarter valued at approximately $43,000. Pallas Capital Advisors LLC bought a new stake in Playtika in the second quarter valued at approximately $45,000. International Assets Investment Management LLC increased its stake in Playtika by 89.2% in the third quarter. International Assets Investment Management LLC now owns 22,742 shares of the company's stock valued at $49,000 after purchasing an additional 10,725 shares in the last quarter. Finally, Bull Harbor Capital LLC acquired a new stake in Playtika in the first quarter worth $50,000. 11.94% of the stock is currently owned by institutional investors.

About Playtika

Playtika Holding Corp. develops and publishes free-to-play mobile games, with a focus on social casino and casual gaming. Its games are available on mobile devices and online, and generate revenue primarily through in-game purchases and advertising. Its portfolio includes titles such as Slotomania, Caesars Slots, Bingo Blitz and June's Journey. Playtika was founded in 2010 and has expanded its portfolio through acquisitions, including the 2018 purchase of German game developer Wooga. Founded in Israel, Playtika serves players in markets around the world.

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