Playtika (NASDAQ:PLTK) Sees Unusually-High Trading Volume – Here’s Why

Shares of Playtika Holding Corp. (NASDAQ:PLTK) saw unusually-strong trading volume on Friday . Approximately 2,300,204 shares were traded 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.

Analysts Set New Price Targets

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

Playtika Stock Performance

The business has a 50 day simple moving average of $6.44 and a 200-day simple moving average of $7.30. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 7.16, a P/E/G ratio of 1.69 and a beta of 0.98.

Playtika Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, March 21st. This represents a $0.40 annualized dividend and a yield of 9.67%. Playtika’s dividend payout ratio (DPR) is currently 90.91%.

Institutional Trading of Playtika

Several institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC increased its position in shares of Playtika by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,216 shares of the company’s stock valued at $29,000 after acquiring an additional 1,534 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Playtika by 146.0% during 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 during the last quarter. Versant Capital Management Inc raised its stake in shares of Playtika by 148.7% during the 4th quarter. Versant Capital Management Inc now owns 5,847 shares of the company’s stock worth $41,000 after purchasing an additional 3,496 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Playtika in the 3rd quarter worth about $56,000. Finally, KBC Group NV raised its position in Playtika by 19.3% in the third quarter. KBC Group NV now owns 7,820 shares of the company’s stock worth $62,000 after acquiring an additional 1,266 shares during the period. Institutional investors 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.