Playtika (NASDAQ:PLTK) Sets New 52-Week Low - Here's What Happened

Key Points

• Playtika shares fell 8.4%, reaching a new 52-week low of $2.61 during Tuesday trading, compared with a prior close of $2.80.
• Analysts remain mixed: Playtika has an average “Hold” rating and an average price target of $4.11, with targets ranging from $3.50 to $4.25.
• Institutional investors and hedge funds own 11.94% of the company, with several firms recently initiating or increasing positions.

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $2.61 and last traded at $2.6150, with a volume of 1486048 shares. The stock had previously closed at $2.80.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLTK. Morgan Stanley set a $4.25 price target on shares of Playtika in a report on Monday. Wall Street Zen raised shares of Playtika from a "hold" rating to a "buy" rating in a research report on Saturday. TD Cowen reissued a "buy" rating on shares of Playtika in a research note on Tuesday, June 9th. Roth Capital lifted their target price on shares of Playtika from $3.00 to $3.50 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group set a $3.75 price target on shares of Playtika in a research report on Friday. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Playtika has an average rating of "Hold" and an average price target of $4.11.

Playtika Stock Down 8.4%

The firm's 50 day moving average price is $3.65 and its two-hundred day moving average price is $3.42. The firm has a market capitalization of $978.34 million, a PE ratio of -3.49 and a beta of 1.09.

Institutional Trading of Playtika

Several large investors have recently modified their holdings of the business. Independent Financial Group LLC acquired a new position in shares of Playtika in the first quarter worth about $28,000. Kestra Advisory Services LLC purchased a new stake in Playtika during the 4th quarter worth approximately $32,000. Signaturefd LLC increased its holdings in Playtika by 129.8% during the 4th quarter. Signaturefd LLC now owns 9,113 shares of the company's stock worth $36,000 after purchasing an additional 5,147 shares during the last quarter. Comerica Bank raised its position in shares of Playtika by 278.9% in the 4th quarter. Comerica Bank now owns 9,108 shares of the company's stock valued at $36,000 after purchasing an additional 6,704 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Playtika during the 4th quarter valued at approximately $41,000. 11.94% of the stock is currently owned by institutional investors and hedge funds.

About Playtika

Playtika Ltd. NASDAQ: PLTK is a leading developer and publisher of free-to-play mobile and social games. Established in 2010 and headquartered in Herzliya, Israel, the company has built a reputation for creating engaging, social casino and casual gaming experiences. Playtika's platform leverages data-driven analytics and in-game community features to drive player retention and monetization across multiple titles.

The company's diverse portfolio includes flagship social casino games such as Slotomania, Bingo Blitz and Caesars Casino, as well as skill-based and casual offerings like World Series of Poker and House of Fun.

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