Playtika (NASDAQ:PLTK) Sees Large Volume Increase – Time to Buy?

Shares of Playtika Holding Corp. (NASDAQ:PLTK) saw an uptick in trading volume on Friday . 2,300,204 shares traded hands during trading, an increase of 154% from the previous session’s volume of 906,729 shares.The stock last traded at $4.16 and had previously closed at $4.37.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLTK. Citigroup reduced their target price on shares of Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Wedbush reissued an “outperform” rating and set a $11.50 target price on shares of Playtika in a research report on Wednesday, February 26th. Baird R W downgraded shares of Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Robert W. Baird reaffirmed a “neutral” rating and issued a $6.00 price objective (down from $9.00) on shares of Playtika in a report on Friday, February 28th. Finally, Macquarie cut their price objective on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Playtika presently has an average rating of “Hold” and a consensus price target of $8.32.

Playtika Trading Down 10.3 %

The company’s fifty day simple moving average is $6.39 and its 200 day simple moving average is $7.27. The stock has a market capitalization of $1.51 billion, a P/E ratio of 6.91, a P/E/G ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 9.98%. The ex-dividend date is Friday, March 21st. Playtika’s dividend payout ratio (DPR) is currently 90.91%.

Hedge Funds Weigh In On Playtika

A number of large investors have recently added to or reduced their stakes in PLTK. Sterling Capital Management LLC raised its position in Playtika by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after purchasing an additional 1,534 shares during the period. GAMMA Investing LLC grew its holdings in Playtika by 146.0% in the 4th quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock worth $34,000 after acquiring an additional 2,910 shares during the last quarter. Versant Capital Management Inc grew its holdings in Playtika by 148.7% in the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock worth $41,000 after acquiring an additional 3,496 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Playtika in the 3rd quarter worth $56,000. Finally, R Squared Ltd bought a new stake in Playtika in the 4th quarter worth $57,000. Hedge funds and other 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.