Playtika (NASDAQ:PLTK) Trading 4.4% Higher - Here's Why

Key Points

• Playtika shares rose 4.4% on Monday, trading as high as $4.00 after closing at $3.83. Trading volume was far below average, with just 108,728 shares changing hands.
• Analyst sentiment remains mixed: TD Cowen reiterated a buy, Roth Capital raised its price target to $3.50 with a neutral rating, and Weiss Ratings reaffirmed a sell. Overall, the stock carries a consensus Hold rating and a $4.00 target price.
• Playtika recently reported mixed quarterly results, posting a loss of $0.15 per share versus expectations for a profit, even though revenue of $744.7 million beat estimates. Revenue still grew 5.5% year over year, and institutional investors own about 11.94% of the stock.

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) shares were up 4.4% during trading on Monday . The company traded as high as $4.00 and last traded at $4.00. 108,728 shares changed hands during trading, a decline of 93% from the average session volume of 1,603,474 shares. The stock had previously closed at $3.83.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLTK. TD Cowen reiterated a "buy" rating on shares of Playtika in a research report on Tuesday, June 9th. Roth Capital boosted their price target 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, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Playtika in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $4.00.

Playtika Trading Up 9.8%

The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -5.45 and a beta of 1.09. The company has a fifty day moving average price of $3.56 and a 200-day moving average price of $3.42.

Playtika (NASDAQ:PLTK - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.22). The firm had revenue of $744.70 million during the quarter, compared to analyst estimates of $694.68 million. Playtika had a negative return on equity of 67.46% and a negative net margin of 10.54%.The company's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. As a group, sell-side analysts predict that Playtika Holding Corp. will post 0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Independent Financial Group LLC acquired a new stake in shares of Playtika in the 1st quarter valued at $28,000. Kestra Advisory Services LLC acquired a new position in Playtika during the fourth quarter worth $32,000. Signaturefd LLC raised its holdings in Playtika by 129.8% during the fourth quarter. Signaturefd LLC now owns 9,113 shares of the company's stock valued at $36,000 after buying an additional 5,147 shares in the last quarter. Comerica Bank raised its holdings in Playtika by 278.9% during the fourth quarter. Comerica Bank now owns 9,108 shares of the company's stock valued at $36,000 after buying an additional 6,704 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Playtika in the fourth quarter worth about $41,000. Institutional investors and hedge funds own 11.94% of the company's stock.

Playtika Company Profile

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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