Tidal Investments LLC Sells 186,611 Shares of Playtika Holding Corp. (NASDAQ:PLTK)

Tidal Investments LLC trimmed its holdings in Playtika Holding Corp. (NASDAQ:PLTK) by 75.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,824 shares of the company’s stock after selling 186,611 shares during the quarter. Tidal Investments LLC’s holdings in Playtika were worth $474,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLTK. Migdal Insurance & Financial Holdings Ltd. bought a new position in Playtika in the 2nd quarter worth approximately $31,000. Acadian Asset Management LLC bought a new stake in shares of Playtika during the second quarter worth $43,000. Headlands Technologies LLC lifted its stake in shares of Playtika by 648.8% during the second quarter. Headlands Technologies LLC now owns 6,687 shares of the company’s stock valued at $53,000 after acquiring an additional 5,794 shares during the period. Neo Ivy Capital Management bought a new position in Playtika in the third quarter valued at about $56,000. Finally, Capital Performance Advisors LLP acquired a new stake in Playtika in the third quarter worth about $62,000. Institutional investors and hedge funds own 11.94% of the company’s stock.

Playtika Price Performance

NASDAQ:PLTK opened at $6.85 on Monday. The business’s 50-day simple moving average is $8.06 and its 200-day simple moving average is $7.81. Playtika Holding Corp. has a fifty-two week low of $6.25 and a fifty-two week high of $9.15. The stock has a market capitalization of $2.55 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.97 and a beta of 0.88.

Playtika (NASDAQ:PLTK) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $620.80 million during the quarter, compared to analyst estimates of $622.46 million. Playtika had a net margin of 8.52% and a negative return on equity of 144.73%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. On average, research analysts expect that Playtika Holding Corp. will post 0.65 earnings per share for the current year.

Playtika Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Friday, December 20th. Playtika’s payout ratio is 68.97%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PLTK shares. Wedbush reaffirmed an “outperform” rating and issued a $11.50 target price on shares of Playtika in a research note on Thursday, September 19th. Roth Mkm lifted their target price on shares of Playtika from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Macquarie restated a “neutral” rating and issued a $7.00 price target on shares of Playtika in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.00.

Insiders Place Their Bets

In other Playtika news, major shareholder Holding Uk Ltd Playtika II sold 75,923 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.54, for a total transaction of $572,459.42. Following the sale, the insider now directly owns 200,554,660 shares of the company’s stock, valued at $1,512,182,136.40. The trade was a 0.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 753,894 shares of company stock valued at $6,239,985 in the last quarter. 4.80% of the stock is currently owned by insiders.

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.