Brokerages Set Playtika Holding Corp. (NASDAQ:PLTK) Target Price at $7.78

Shares of Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) have earned a consensus recommendation of "Hold" from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $7.78.

Several research firms recently weighed in on PLTK. Bank of America raised shares of 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 note on Wednesday, March 26th. Citigroup reduced their price objective on shares of Playtika from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Wedbush reaffirmed an "outperform" rating and issued a $11.50 price target on shares of Playtika in a research note on Friday, May 2nd. Macquarie cut their price target on shares of Playtika from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $6.00 price target (down previously from $9.00) on shares of Playtika in a research note on Friday, February 28th.

Hedge Funds Weigh In On Playtika

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

Playtika Trading Down 1.1%

Shares of NASDAQ:PLTK traded down $0.06 during trading on Monday, hitting $4.97. 414,171 shares of the company's stock were exchanged, compared to its average volume of 1,748,401. Playtika has a 1-year low of $3.97 and a 1-year high of $9.15. The firm has a 50-day moving average price of $4.96 and a two-hundred day moving average price of $6.54. The firm has a market cap of $1.86 billion, a P/E ratio of 8.56, a PEG ratio of 1.69 and a beta of 0.91.

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

Playtika Announces Dividend

The business 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 $0.10 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $0.40 annualized dividend and a dividend yield of 8.06%. Playtika's dividend payout ratio is currently 105.26%.

About Playtika

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.