Bank of America Upgrades Playtika (NASDAQ:PLTK) to Buy

Bank of America upgraded shares of Playtika (NASDAQ:PLTK) from an underperform rating to a buy rating in a report issued on Wednesday morning, MarketBeat reports. Bank of America currently has $6.50 price objective on the stock, up from their previous price objective of $6.00.

PLTK has been the topic of a number of other reports. Macquarie decreased their target price on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Robert W. Baird restated a “neutral” rating and set a $6.00 target price (down previously from $9.00) on shares of Playtika in a research report on Friday, February 28th. Baird R W downgraded shares of Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Wedbush reissued an “outperform” rating and set a $11.50 price objective on shares of Playtika in a research note on Wednesday, February 26th. Finally, Citigroup lowered their target price on Playtika from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Playtika presently has a consensus rating of “Hold” and a consensus target price of $8.09.

Playtika Stock Performance

Shares of Playtika stock opened at $5.20 on Wednesday. The company has a 50-day moving average of $6.18 and a two-hundred day moving average of $7.19. Playtika has a 12-month low of $3.97 and a 12-month high of $9.16. The stock has a market cap of $1.95 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.40 annualized dividend and a yield of 7.69%. Playtika’s dividend payout ratio is presently 90.91%.

Institutional Trading of Playtika

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC increased its position in shares of Playtika by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock worth $29,000 after acquiring an additional 1,534 shares in the last quarter. GAMMA Investing LLC increased its holdings in Playtika by 146.0% in the 4th quarter. GAMMA Investing LLC now owns 4,903 shares of the company’s stock valued at $34,000 after purchasing an additional 2,910 shares in the last quarter. Versant Capital Management Inc raised its position in Playtika by 148.7% in the fourth quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock valued at $41,000 after purchasing an additional 3,496 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Playtika during the third quarter worth about $56,000. Finally, R Squared Ltd acquired a new stake in shares of Playtika in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 11.94% of the company’s stock.

Playtika Company Profile

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.