Playtika (NASDAQ:PLTK) Downgraded by Baird R W to “Hold”

Baird R W downgraded shares of Playtika (NASDAQ:PLTK) from a strong-buy rating to a hold rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other research firms have also recently commented on PLTK. Roth Mkm raised their price target on shares of Playtika from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Robert W. Baird restated a “neutral” rating and issued a $6.00 target price (down from $9.00) on shares of Playtika in a research note on Friday. Macquarie decreased their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Wedbush reiterated an “outperform” rating and issued a $11.50 price target on shares of Playtika in a report on Wednesday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Playtika has a consensus rating of “Hold” and a consensus price target of $8.21.

Playtika Stock Performance

Shares of PLTK opened at $5.28 on Friday. The firm has a market cap of $1.97 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. Playtika has a 52-week low of $5.22 and a 52-week high of $9.15. The business’s 50 day moving average price is $7.02 and its two-hundred day moving average price is $7.54.

Playtika Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a $0.10 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.58%. Playtika’s dividend payout ratio is presently 68.97%.

Insider Activity at Playtika

In related news, major shareholder Holding Uk Ltd Playtika II sold 124,490 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $8.44, for a total transaction of $1,050,695.60. Following the completion of the sale, the insider now owns 202,673,467 shares in the company, valued at approximately $1,710,564,061.48. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 491,921 shares of company stock valued at $4,004,775. 4.80% of the stock is owned by corporate insiders.

Institutional Trading of Playtika

Several institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Playtika by 8.8% during the third quarter. Pacer Advisors Inc. now owns 10,249,684 shares of the company’s stock worth $81,177,000 after purchasing an additional 829,372 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Playtika by 9.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,926,854 shares of the company’s stock worth $20,312,000 after buying an additional 241,658 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Playtika by 61.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock worth $20,290,000 after buying an additional 1,109,594 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Playtika by 13.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company’s stock valued at $21,267,000 after acquiring an additional 326,890 shares in the last quarter. Finally, FMR LLC increased its position in shares of Playtika by 1.2% during the third quarter. FMR LLC now owns 1,339,801 shares of the company’s stock valued at $10,611,000 after acquiring an additional 15,471 shares during the last quarter. Institutional investors own 11.94% of the company’s stock.

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.