Playtika (NASDAQ:PLTK) Sets New 52-Week Low - Should You Sell?

Key Points

• Playtika shares hit a new 52-week low of $2.04, down 1.2% from the prior close, with the stock trading well below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but cautious: Playtika has an average rating of “Hold” and an average price target of $3.67, while Roth Capital lowered its target to $2.75 and Weiss Ratings reaffirmed a sell rating.
• Institutional ownership stands at 11.94%, with several investors recently adding to or initiating positions, including Tidal Investments, which increased its stake by 153%.

Playtika Holding Corp. (NASDAQ:PLTK - Get Free Report) reached a new 52-week low during trading on Wednesday. The stock traded as low as $2.04 and last traded at $2.04, with a volume of 1,025 shares. The stock had previously closed at $2.08.

Analyst Ratings Changes

PLTK has been the topic of several analyst reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Playtika in a research report on Wednesday, August 26th. Wall Street Zen cut Playtika from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Roth Capital reduced 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. Morgan Stanley set a $4.25 price target on Playtika in a report on Monday, August 10th. Finally, The Goldman Sachs Group set a $3.75 price objective on shares of Playtika in a report on Friday, August 7th. 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's stock. According to MarketBeat, Playtika has an average rating of "Hold" and an average price target of $3.67.

Playtika Trading Down 1.2%

The stock has a market cap of $783.82 million, a PE ratio of -2.82 and a beta of 1.07. The company has a fifty day moving average of $2.26 and a 200-day moving average of $3.10.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PLTK. SummerHaven Investment Management LLC purchased a new position in shares of Playtika in the 3rd quarter valued at about $217,000. Williams & Novak Wealth Management LLC lifted its stake in Playtika by 12.0% during the third quarter. Williams & Novak Wealth Management LLC now owns 110,035 shares of the company's stock worth $235,000 after purchasing an additional 11,830 shares during the last quarter. Tidal Investments LLC lifted its stake in Playtika by 153.0% during the second quarter. Tidal Investments LLC now owns 353,984 shares of the company's stock worth $1,317,000 after purchasing an additional 214,093 shares during the last quarter. NewEdge Advisors LLC purchased a new position in Playtika in the second quarter valued at approximately $78,000. Finally, AXQ Capital LP purchased a new stake in shares of Playtika during the 2nd quarter worth approximately $70,000. Institutional investors and hedge funds own 11.94% of the company's stock.

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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