Playtika (NASDAQ:PLTK) Earns "Outperform" Rating from Wedbush

Wedbush restated their outperform rating on shares of Playtika (NASDAQ:PLTK - Free Report) in a research report sent to investors on Friday morning,RTT News reports. The firm currently has a $11.50 target price on the stock. Wedbush also issued estimates for Playtika's Q1 2025 earnings at $0.14 EPS.

PLTK has been the subject of a number of other research reports. Citigroup dropped their target price on shares of Playtika from $10.00 to $9.00 and set a "buy" rating for the company in a report on Friday, March 7th. Robert W. Baird restated a "neutral" rating and issued a $6.00 target price (down previously from $9.00) on shares of Playtika in a research report on Friday, February 28th. Bank of America upgraded shares of Playtika from an "underperform" rating to a "buy" rating and upped their price target for the stock from $6.00 to $6.50 in a report on Wednesday, March 26th. Baird R W downgraded Playtika from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Morgan Stanley lowered their target price on Playtika from $7.25 to $5.75 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $7.78.

Playtika Stock Performance

Shares of Playtika stock traded up $0.16 during trading on Friday, reaching $5.44. 1,801,575 shares of the company's stock were exchanged, compared to its average volume of 1,126,072. The firm's 50-day moving average price is $4.99 and its 200 day moving average price is $6.68. The company has a market cap of $2.04 billion, a P/E ratio of 9.38, a PEG ratio of 1.69 and a beta of 0.92. Playtika has a 1-year low of $3.97 and a 1-year high of $9.16.

Playtika Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were paid a $0.10 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.40 annualized dividend and a dividend yield of 7.35%. Playtika's payout ratio is 90.91%.

Hedge Funds Weigh In On Playtika

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTK. New York State Common Retirement Fund lifted its position in shares of Playtika by 21.8% in the 1st quarter. New York State Common Retirement Fund now owns 23,143 shares of the company's stock worth $120,000 after purchasing an additional 4,145 shares during the period. Allworth Financial LP lifted its holdings in Playtika by 117.1% in the first quarter. Allworth Financial LP now owns 4,996 shares of the company's stock valued at $26,000 after buying an additional 2,695 shares during the period. Vontobel Holding Ltd. bought a new stake in Playtika during the first quarter valued at $343,000. Monument Capital Management grew its holdings in Playtika by 48.1% during the 1st quarter. Monument Capital Management now owns 20,021 shares of the company's stock worth $104,000 after acquiring an additional 6,498 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Playtika by 55.7% during the 1st quarter. State of Alaska Department of Revenue now owns 354,689 shares of the company's stock worth $1,833,000 after acquiring an additional 126,857 shares during the period. 11.94% of the stock is owned by institutional investors and hedge funds.

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.