Playtech (LON:PTEC) Stock Price Crosses Below 200 Day Moving Average - Should You Sell?

Key Points

• Playtech's stock price fell below its 200-day moving average during trading, with the latest price at GBX 342.53 ($4.56) after hitting a low of GBX 338.50 ($4.51).
• Analysts have varying outlooks, with Deutsche Bank raising their price target to GBX 433 and Peel Hunt setting it at GBX 510, both maintaining a "buy" rating.
• The company has initiated a share buyback program, indicating that management believes its stock is undervalued, even though shares are currently down 0.7%.

Playtech plc (LON:PTEC - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 445.60 ($5.94) and traded as low as GBX 338.50 ($4.51). Playtech shares last traded at GBX 342.53 ($4.56), with a volume of 35,084,984 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on Playtech from GBX 417 to GBX 433 and gave the company a "buy" rating in a report on Thursday, September 11th. Peel Hunt restated a "buy" rating and set a GBX 510 target price on shares of Playtech in a research note on Friday, August 1st.

Playtech Stock Down 0.7%

The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09. The firm's 50-day moving average price is GBX 390.28 and its 200 day moving average price is GBX 445.60. The firm has a market cap of £1.04 billion, a P/E ratio of 58.47, a PEG ratio of 1.28 and a beta of 1.26.

Playtech declared that its Board of Directors has initiated a share buyback program on Thursday, September 25th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

About Playtech

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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