Playtika (NASDAQ:PLTK) Reaches New 1-Year Low - Time to Sell?

Key Points

• Playtika Holdings Corp. (NASDAQ:PLTK) reached a new 52-week low of $3.88 during trading, with shares currently priced at $3.96.
• Analysts have mixed views on the stock, with an average rating of "Moderate Buy" and a price target of $7.68, despite Morgan Stanley lowering their target from $7.25 to $5.75.
• Insiders sold a total of 739,922 shares worth approximately $3.55 million over the last three months, indicating potential concerns about the company's performance.

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $3.88 and last traded at $3.96, with a volume of 570573 shares trading hands. The stock had previously closed at $4.35.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wedbush raised shares of Playtika to a "strong-buy" rating in a report on Tuesday, July 1st. Morgan Stanley dropped their target price on shares of Playtika from $7.25 to $5.75 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.68.

Playtika Stock Performance

The firm has a market cap of $1.42 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 1.17 and a beta of 0.85. The stock has a fifty day simple moving average of $4.71 and a 200 day simple moving average of $5.30.

Playtika (NASDAQ:PLTK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.02). Playtika had a negative return on equity of 149.09% and a net margin of 5.37%. The firm had revenue of $706.00 million during the quarter, compared to analysts' expectations of $699.67 million. During the same quarter last year, the business earned $0.14 earnings per share. The business's quarterly revenue was up 8.4% on a year-over-year basis. Research analysts predict that Playtika Holding Corp. will post 0.65 earnings per share for the current year.

Insider Transactions at Playtika

In other news, major shareholder Holding Uk Ltd Playtika II sold 150,869 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $4.77, for a total transaction of $719,645.13. Following the completion of the sale, the insider owned 199,359,642 shares of the company's stock, valued at $950,945,492.34. The trade was a 0.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 739,922 shares of company stock worth $3,548,194 in the last three months. Insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PLTK. Sei Investments Co. lifted its holdings in Playtika by 341.2% during the fourth quarter. Sei Investments Co. now owns 76,403 shares of the company's stock valued at $530,000 after purchasing an additional 59,084 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Playtika by 13.0% during the 4th quarter. Alliancebernstein L.P. now owns 94,336 shares of the company's stock valued at $655,000 after purchasing an additional 10,873 shares during the period. Franklin Resources Inc. lifted its stake in shares of Playtika by 109.1% during the 4th quarter. Franklin Resources Inc. now owns 126,671 shares of the company's stock valued at $879,000 after buying an additional 66,084 shares in the last quarter. National Bank of Canada FI bought a new position in Playtika in the 4th quarter worth $191,000. Finally, ExodusPoint Capital Management LP bought a new position in Playtika in the 4th quarter worth $601,000. 11.94% of the stock is currently owned by institutional investors.

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.

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