Delap Wealth Advisory LLC Acquires 30,398 Shares of Playtika Holding Corp. (NASDAQ:PLTK)

Delap Wealth Advisory LLC boosted its holdings in shares of Playtika Holding Corp. (NASDAQ:PLTK) by 254.8% during the 2nd quarter, Holdings Channel reports. The firm owned 42,329 shares of the company’s stock after buying an additional 30,398 shares during the period. Delap Wealth Advisory LLC’s holdings in Playtika were worth $333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alaska Permanent Fund Corp increased its stake in Playtika by 362.8% in the 1st quarter. Alaska Permanent Fund Corp now owns 225,673 shares of the company’s stock worth $1,591,000 after acquiring an additional 176,913 shares during the last quarter. LSV Asset Management increased its stake in 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 during the last quarter. Assenagon Asset Management S.A. bought a new stake in Playtika in the 2nd quarter worth approximately $744,000. Russell Investments Group Ltd. increased its stake in Playtika by 0.8% in the 1st quarter. Russell Investments Group Ltd. now owns 184,926 shares of the company’s stock worth $1,304,000 after acquiring an additional 1,495 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Playtika by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,566,049 shares of the company’s stock worth $25,141,000 after acquiring an additional 76,948 shares during the last quarter. Institutional investors own 11.94% of the company’s stock.

Playtika Stock Down 3.3 %

PLTK opened at $7.82 on Friday. The business has a fifty day moving average of $7.46 and a 200 day moving average of $7.63. Playtika Holding Corp. has a 52-week low of $6.25 and a 52-week high of $10.28. The stock has a market cap of $2.91 billion, a P/E ratio of 14.22, a PEG ratio of 1.01 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Playtika had a negative return on equity of 127.12% and a net margin of 8.44%. The company had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $640.27 million. During the same quarter in the previous year, the business earned $0.21 EPS. Playtika’s revenue was down 2.5% compared to the same quarter last year. Equities analysts anticipate that Playtika Holding Corp. will post 0.73 EPS for the current fiscal year.

Playtika Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.