Ariadne Wealth Management LP Purchases New Position in Playtika Holding Corp. (NASDAQ:PLTK)

Ariadne Wealth Management LP purchased a new stake in Playtika Holding Corp. (NASDAQ:PLTK) during the 2nd quarter, HoldingsChannel reports. The fund purchased 10,340 shares of the company’s stock, valued at approximately $82,000.

Several other institutional investors have also bought and sold shares of PLTK. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Playtika in the second quarter worth about $31,000. Versant Capital Management Inc acquired a new stake in shares of Playtika in the second quarter valued at approximately $36,000. Acadian Asset Management LLC bought a new position in Playtika in the 2nd quarter worth approximately $43,000. Headlands Technologies LLC lifted its holdings in Playtika by 648.8% during the 2nd quarter. Headlands Technologies LLC now owns 6,687 shares of the company’s stock worth $53,000 after buying an additional 5,794 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Playtika in the 1st quarter valued at $82,000. Institutional investors and hedge funds own 11.94% of the company’s stock.

Playtika Stock Down 2.7 %

PLTK opened at $7.71 on Wednesday. The stock has a market cap of $2.86 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.62 and a beta of 0.85. Playtika Holding Corp. has a 12 month low of $6.25 and a 12 month high of $9.87. The company has a fifty day simple moving average of $7.46 and a 200 day simple moving average of $7.67.

Playtika (NASDAQ:PLTK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $640.27 million. During the same period in the prior year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities research analysts expect that Playtika Holding Corp. will post 0.73 earnings per share for the current fiscal year.

Playtika Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 20th. This represents a $0.40 dividend on an annualized basis and a yield of 5.19%. Playtika’s payout ratio is 72.73%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLTK. Macquarie lowered Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research note on Thursday, June 13th. Wedbush reaffirmed an “outperform” rating and issued a $11.50 target price on shares of Playtika in a research note on Thursday, September 19th. Morgan Stanley boosted their price target on shares of Playtika from $7.40 to $8.25 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Roth Mkm dropped their price target on shares of Playtika from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, UBS Group assumed coverage on shares of Playtika in a research note on Monday, June 24th. They set a “neutral” rating and a $8.50 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.29.

About Playtika

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.