Playtech plc (LON:PTEC - Get Free Report)'s share price was down 22.5% during mid-day trading on Tuesday . The stock traded as low as GBX 210 ($2.81) and last traded at GBX 266.50 ($3.56). Approximately 8,431,737 shares traded hands during trading, an increase of 311% from the average daily volume of 2,052,740 shares. The stock had previously closed at GBX 344 ($4.60).
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on PTEC shares. Jefferies Financial Group lifted their price objective on shares of Playtech from GBX 395 to GBX 405 and gave the company a "buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Playtech from GBX 417 to GBX 433 and gave the company a "buy" rating in a research report on Thursday, September 11th. Finally, Peel Hunt reiterated a "buy" rating and set a GBX 510 price objective on shares of Playtech in a research report on Friday, August 1st.
Read Our Latest Analysis on PTEC
Playtech Price Performance
The stock has a market capitalization of £816.88 million, a PE ratio of 0.46, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06. The stock's 50 day moving average price is GBX 379.31 and its 200-day moving average price is GBX 433.06.
Playtech announced that its Board of Directors has initiated a share buyback plan on Thursday, September 25th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.
Playtech Company Profile
(
Get Free Report)
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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