Massachusetts Financial Services Co. MA Increases Stake in Playtika Holding Corp. (NASDAQ:PLTK)

Massachusetts Financial Services Co. MA increased its holdings in Playtika Holding Corp. (NASDAQ:PLTK) by 3.5% in the second quarter, Holdings Channel reports. The fund owned 162,450 shares of the company’s stock after purchasing an additional 5,453 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Playtika were worth $1,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors purchased a new position in Playtika during the first quarter valued at approximately $9,327,000. Tidal Investments LLC purchased a new position in shares of Playtika in the 1st quarter valued at $1,895,000. LSV Asset Management raised its position in shares of Playtika by 3.4% in the 1st quarter. LSV Asset Management now owns 7,756,485 shares of the company’s stock worth $54,683,000 after acquiring an additional 256,353 shares in the last quarter. Alaska Permanent Fund Corp lifted its stake in shares of Playtika by 362.8% during the 1st quarter. Alaska Permanent Fund Corp now owns 225,673 shares of the company’s stock worth $1,591,000 after purchasing an additional 176,913 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Playtika during the second quarter valued at about $744,000. 11.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on PLTK shares. Morgan Stanley increased their price target on shares of Playtika from $7.40 to $8.25 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Wedbush reissued an “outperform” rating and set a $11.50 target price on shares of Playtika in a research report on Thursday. UBS Group started coverage on shares of Playtika in a report on Monday, June 24th. They issued a “neutral” rating and a $8.50 price target on the stock. Roth Mkm lowered their price objective on Playtika from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Macquarie lowered Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.29.

Playtika Stock Performance

Shares of PLTK stock opened at $7.82 on Monday. Playtika Holding Corp. has a fifty-two week low of $6.25 and a fifty-two week high of $10.28. The firm has a market capitalization of $2.91 billion, a PE ratio of 14.22, a P/E/G ratio of 1.01 and a beta of 0.85. The stock’s 50-day simple moving average is $7.46 and its 200-day simple moving average is $7.64.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $627.00 million during the quarter, compared to analyst estimates of $640.27 million. Playtika had a net margin of 8.44% and a negative return on equity of 127.12%. Playtika’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. Sell-side analysts forecast that Playtika Holding Corp. will post 0.73 earnings per share for the current year.

Playtika Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Friday, September 20th. Playtika’s payout ratio is 72.73%.

Playtika 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.