Investors Purchase High Volume of Playtika Call Options (NASDAQ:PLTK)

Playtika Holding Corp. (NASDAQ:PLTK) was the target of some unusual options trading activity on Wednesday. Traders bought 4,603 call options on the stock. This represents an increase of 2,501% compared to the typical daily volume of 177 call options.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PLTK shares. Robert W. Baird reiterated a “neutral” rating and set a $6.00 price objective (down from $9.00) on shares of Playtika in a report on Friday, February 28th. Citigroup cut their price target on Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Wedbush reissued an “outperform” rating and issued a $11.50 price target on shares of Playtika in a research note on Wednesday, February 26th. Macquarie reduced their target price on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Finally, Baird R W cut shares of Playtika from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Playtika has a consensus rating of “Hold” and an average target price of $8.09.

Playtika Stock Performance

Shares of NASDAQ:PLTK traded up $0.98 during midday trading on Wednesday, hitting $5.38. The company’s stock had a trading volume of 4,037,996 shares, compared to its average volume of 998,274. Playtika has a fifty-two week low of $3.97 and a fifty-two week high of $9.16. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.69 and a beta of 0.98. The stock’s 50 day simple moving average is $6.29 and its 200 day simple moving average is $7.23.

Playtika Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.43%. The ex-dividend date of this dividend is Friday, March 21st. Playtika’s dividend payout ratio is currently 90.91%.

Institutional Inflows and Outflows

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

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.