Playtika (NASDAQ:PLTK) Reaches New 52-Week Low - What's Next?

Key Points

• Playtika's stock has reached a new 52-week low at $3.39, with analysts reducing target prices significantly; UBS lowered it from $5.50 to $4.00.
• Despite a missed earnings report where Playtika reported $0.02 EPS against a $0.15 expectation, the company's revenue of $696 million was up 11% year-over-year.
• The company declared a quarterly dividend of $0.10 per share, resulting in an annualized yield of 11.6%, with a payout ratio of 166.67%.

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report)'s share price reached a new 52-week low on Friday . The company traded as low as $3.39 and last traded at $3.45, with a volume of 15155 shares trading hands. The stock had previously closed at $3.49.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group cut their target price on Playtika from $5.50 to $4.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. Wedbush cut their target price on Playtika from $11.50 to $7.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded Playtika from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.66.

Playtika Stock Up 1.3%

The stock has a fifty day moving average of $3.92 and a 200-day moving average of $4.54. The stock has a market cap of $1.29 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84.

Playtika (NASDAQ:PLTK - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.13). Playtika had a net margin of 3.23% and a negative return on equity of 83.90%. The business had revenue of $696.00 million during the quarter, compared to analysts' expectations of $706.03 million. During the same period in the prior year, the firm posted $0.23 EPS. Playtika's revenue for the quarter was up 11.0% compared to the same quarter last year. Playtika has set its FY 2025 guidance at EPS. Equities research analysts forecast that Playtika Holding Corp. will post 0.65 earnings per share for the current fiscal year.

Playtika Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date of this dividend is Friday, September 26th. Playtika's payout ratio is currently 166.67%.

Institutional Investors Weigh In On Playtika

Institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC purchased a new stake in Playtika in the 1st quarter valued at approximately $311,000. Vontobel Holding Ltd. purchased a new stake in shares of Playtika during the 1st quarter worth approximately $343,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Playtika by 143.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 719,263 shares of the company's stock worth $3,719,000 after acquiring an additional 423,738 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Playtika during the 4th quarter worth approximately $567,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Playtika by 366.2% during the 1st quarter. Acadian Asset Management LLC now owns 1,547,829 shares of the company's stock worth $7,989,000 after acquiring an additional 1,215,843 shares in the last quarter. Hedge funds and other institutional investors own 11.94% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.