Playtika (NASDAQ:PLTK) Reaches New 12-Month Low - What's Next?

Key Points

• Playtika shares fell to a new 52-week low of $2.07 and last traded near $2.105, giving the company a market capitalization of approximately $806.7 million.
• Analyst sentiment is mixed but leans cautious: the stock has a consensus “Hold” rating and a $3.75 price target, with recent downgrades and target-price reductions offset by some Buy ratings.
• Institutional ownership stands at 11.94%, with BlackRock, Man Group, Bank of New York Mellon and other investors establishing new positions during the second quarter.

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) shares reached a new 52-week low on Monday. The stock traded as low as $2.07 and last traded at $2.1050, with a volume of 53900 shares. The stock had previously closed at $2.13.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PLTK shares. Weiss Ratings restated a "sell (d)" rating on shares of Playtika in a research note on Wednesday, August 26th. Morgan Stanley set a $4.25 price objective on Playtika in a research report on Monday, August 10th. TD Cowen reaffirmed a "buy" rating on shares of Playtika in a research note on Tuesday, June 9th. Roth Capital decreased their target price on Playtika from $3.50 to $2.75 and set a "neutral" rating on the stock in a research report on Monday, August 31st. Finally, Wall Street Zen downgraded Playtika from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $3.75.

Playtika Stock Performance

The stock has a market cap of $806.70 million, a P/E ratio of -2.90 and a beta of 1.00. The firm's fifty day simple moving average is $2.77 and its 200-day simple moving average is $3.18.

Institutional Investors Weigh In On Playtika

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Playtika in the second quarter worth $22,230,000. Man Group plc bought a new stake in Playtika during the 2nd quarter valued at $2,554,000. Bank of New York Mellon Corp acquired a new position in shares of Playtika during the second quarter valued at about $946,000. Pallas Capital Advisors LLC bought a new stake in Playtika during the 2nd quarter worth approximately $45,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Playtika in the second quarter worth approximately $429,000. Institutional investors own 11.94% of the company's stock.

About Playtika

Playtika Holding Corp. is a digital entertainment company that develops, publishes and operates free-to-play mobile and online games. Its titles are designed for smartphones, tablets and web platforms and generate revenue primarily through in-game purchases and advertising.

The company's portfolio includes social casino games such as Slotomania, Caesars Slots, House of Fun and Bingo Blitz, as well as casual and social games including June's Journey and Board Kings. Playtika operates and supports its games through live services, which include regular content updates, events and features intended to maintain player engagement.

Founded in 2010, Playtika has expanded through internal development and acquisitions of game studios and intellectual property.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.