Mork Capital Management LLC Makes New Investment in Playtika Holding Corp. (NASDAQ:PLTK)

Mork Capital Management LLC purchased a new position in shares of Playtika Holding Corp. (NASDAQ:PLTK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 147,700 shares of the company's stock, valued at approximately $1,025,000.

Several other hedge funds have also recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings in Playtika by 43.4% during the fourth quarter. Russell Investments Group Ltd. now owns 260,040 shares of the company's stock worth $1,812,000 after buying an additional 78,716 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Playtika by 23,814.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company's stock worth $4,592,000 after buying an additional 663,700 shares in the last quarter. Sei Investments Co. boosted its holdings in Playtika by 341.2% during the fourth quarter. Sei Investments Co. now owns 76,403 shares of the company's stock worth $530,000 after buying an additional 59,084 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Playtika by 76.2% during the fourth quarter. SG Americas Securities LLC now owns 175,008 shares of the company's stock worth $1,215,000 after buying an additional 75,702 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Playtika by 102.7% during the third quarter. JPMorgan Chase & Co. now owns 80,150 shares of the company's stock worth $635,000 after buying an additional 40,604 shares in the last quarter. 11.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Holding Uk Ltd Playtika II sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $5.00, for a total value of $1,000,000.00. Following the completion of the sale, the insider now directly owns 200,347,048 shares in the company, valued at approximately $1,001,735,240. The trade was a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.10% of the stock is owned by company insiders.

Playtika Stock Down 0.4%

Shares of NASDAQ PLTK traded down $0.02 during midday trading on Friday, hitting $5.00. The stock had a trading volume of 1,629,641 shares, compared to its average volume of 1,151,269. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 1.69 and a beta of 0.91. Playtika Holding Corp. has a 1-year low of $3.97 and a 1-year high of $9.16. The company has a fifty day moving average price of $4.96 and a 200 day moving average price of $6.51.

Playtika (NASDAQ:PLTK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). The company had revenue of $706.00 million for the quarter, compared to analysts' expectations of $699.67 million. Playtika had a net margin of 8.52% and a negative return on equity of 144.73%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 earnings per share. On average, research analysts forecast that Playtika Holding Corp. will post 0.65 EPS for the current year.

Playtika Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, June 23rd. This represents a $0.40 annualized dividend and a yield of 8.00%. Playtika's dividend payout ratio is presently 105.26%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Macquarie reduced their price target on shares of Playtika from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Friday, February 28th. Wedbush reaffirmed an "outperform" rating and issued a $11.50 price target on shares of Playtika in a report on Friday, May 2nd. Bank of America upgraded Playtika from an "underperform" rating to a "buy" rating and lifted their price objective for the stock from $6.00 to $6.50 in a research report on Wednesday, March 26th. Citigroup dropped their price objective on Playtika from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Finally, Morgan Stanley dropped their price objective on Playtika from $7.25 to $5.75 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Playtika has a consensus rating of "Hold" and an average target price of $7.78.

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.