Playtika (NASDAQ:PLTK) Sets New 1-Year Low - Here's Why

Key Points

• Playtika shares fell to a new 52-week low of $2.06, down from the previous close of $2.19, leaving the company with a market capitalization of about $788 million.
• Analyst sentiment remains mixed but leans neutral: two analysts rate the stock Buy, three Hold, and one Sell. The consensus target price is $3.75, above the recent trading level.
• Institutional ownership stands at 11.94%, with some investors increasing positions and others initiating new stakes during the second and third quarters.

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report)'s share price hit a new 52-week low on Wednesday. The stock traded as low as $2.06 and last traded at $2.0750, with a volume of 451,977 shares traded. The stock had previously closed at $2.19.

Analyst Ratings Changes

A number of research firms have weighed in on PLTK. The Goldman Sachs Group set a $3.75 price target on shares of Playtika in a research report on Friday, August 7th. Roth Capital dropped their target price on shares of Playtika from $3.50 to $2.75 and set a "neutral" rating for the company in a report on Monday, August 31st. Wedbush increased their price target on Playtika from $3.00 to $4.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Morgan Stanley set a $4.25 target price on Playtika in a research report on Monday, August 10th. Finally, Citigroup reaffirmed a "buy" rating on shares of Playtika in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $3.75.

Playtika Stock Performance

The company has a market capitalization of $787.63 million, a price-to-earnings ratio of -2.82 and a beta of 1.07. The business's 50 day moving average is $2.36 and its 200 day moving average is $3.12.

Institutional Trading of Playtika

Several large investors have recently made changes to their positions in PLTK. Williams & Novak Wealth Management LLC raised its holdings in shares of Playtika by 12.0% during the 3rd quarter. Williams & Novak Wealth Management LLC now owns 110,035 shares of the company's stock worth $235,000 after acquiring an additional 11,830 shares during the period. Tidal Investments LLC grew its stake in shares of Playtika by 153.0% in the 2nd quarter. Tidal Investments LLC now owns 353,984 shares of the company's stock valued at $1,317,000 after buying an additional 214,093 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Playtika in the 2nd quarter valued at approximately $78,000. AXQ Capital LP acquired a new stake in shares of Playtika during the 2nd quarter worth approximately $70,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Playtika during the 2nd quarter worth approximately $173,000. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Playtika Company Profile

Playtika Holding Corp. is a digital entertainment company that develops and operates free-to-play mobile and social games. Its business focuses on casual and social gaming experiences that generate revenue through in-game purchases, advertising, and other virtual goods.

The company's portfolio has included titles such as Slotomania, Caesars Slots, Bingo Blitz, House of Fun, June's Journey, Board Kings, and World Series of Poker. Playtika uses data analytics, live-operations capabilities, and ongoing content updates to manage player engagement and extend the life of its games.

Founded in 2010, Playtika is headquartered in Israel and serves players internationally through mobile applications and online platforms.

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