Playtech (LON:PTEC) Sets New 1-Year Low - Time to Sell?

Key Points

• Playtech plc reached a new 52-week low at GBX 210 ($2.81) during trading, closing later at GBX 266.50 ($3.56), indicating significant volatility in the stock value.
• Several analysts, including Jefferies and Deutsche Bank, have raised their price targets for Playtech shares, signaling optimism with "buy" ratings amidst the stock's recent decline.
• The company has initiated a share buyback program suggesting that its board believes the stock is currently undervalued, a move typical among companies seeking to bolster their stock price.

Playtech plc (LON:PTEC - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 210 ($2.81) and last traded at GBX 266.50 ($3.56), with a volume of 8431737 shares changing hands. The stock had previously closed at GBX 344 ($4.60).

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Playtech from GBX 395 to GBX 405 and gave the company a "buy" rating in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Playtech from GBX 417 to GBX 433 and gave the stock a "buy" rating in a research report on Thursday, September 11th. Finally, Peel Hunt reaffirmed a "buy" rating and set a GBX 510 price objective on shares of Playtech in a research report on Friday, August 1st.

Playtech Stock Up 6.0%

The company has a market capitalization of £865.92 million, a P/E ratio of 0.49, a PEG ratio of 1.28 and a beta of 1.26. The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55. The stock has a 50 day moving average price of GBX 379.31 and a 200 day moving average price of GBX 433.06.

Playtech announced that its board has approved a share buyback program on Thursday, September 25th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Playtech Company Profile

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.

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