The Manufacturers Life Insurance Company Boosts Holdings in Playtika Holding Corp. (NASDAQ:PLTK)

The Manufacturers Life Insurance Company lifted its stake in shares of Playtika Holding Corp. (NASDAQ:PLTK - Free Report) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,926,854 shares of the company's stock after purchasing an additional 241,658 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.79% of Playtika worth $20,312,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its stake in Playtika by 61.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company's stock valued at $20,290,000 after buying an additional 1,109,594 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Playtika by 23,814.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company's stock valued at $4,592,000 after buying an additional 663,700 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Playtika by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 536,945 shares of the company's stock worth $3,726,000 after purchasing an additional 1,639 shares in the last quarter. Marshall Wace LLP grew its position in Playtika by 26.9% during the fourth quarter. Marshall Wace LLP now owns 455,779 shares of the company's stock valued at $3,163,000 after purchasing an additional 96,576 shares in the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of Playtika by 123.6% during the 4th quarter. Edgestream Partners L.P. now owns 415,901 shares of the company's stock valued at $2,886,000 after acquiring an additional 229,933 shares in the last quarter. 11.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PLTK shares. Wedbush restated an "outperform" rating and issued a $11.50 price objective on shares of Playtika in a report on Friday. Macquarie dropped their price objective on shares of Playtika from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Friday, February 28th. Robert W. Baird reissued a "neutral" rating and issued a $6.00 target price (down from $9.00) on shares of Playtika in a report on Friday, February 28th. Citigroup cut their price target on Playtika from $10.00 to $9.00 and set a "buy" rating for the company in a report on Friday, March 7th. Finally, Bank of America raised shares of Playtika from an "underperform" rating to a "buy" rating and raised their target price for the company from $6.00 to $6.50 in a research note on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $7.78.

Playtika Trading Down 1.7 %

NASDAQ:PLTK traded down $0.09 during mid-day trading on Tuesday, hitting $5.28. 2,147,919 shares of the company's stock were exchanged, compared to its average volume of 1,132,991. The firm has a market capitalization of $1.98 billion, a P/E ratio of 9.10, a PEG ratio of 1.69 and a beta of 0.91. Playtika Holding Corp. has a fifty-two week low of $3.97 and a fifty-two week high of $9.16. The company has a 50 day simple moving average of $4.96 and a 200-day simple moving average of $6.67.

Playtika Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 7.58%. The ex-dividend date of this dividend was Friday, March 21st. Playtika's dividend payout ratio is presently 90.91%.

About Playtika

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.