Playtika (NASDAQ:PLTK) Upgraded by Bank of America to “Buy” Rating

Playtika (NASDAQ:PLTK) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $6.50 target price on the stock, up from their prior target price of $6.00. Bank of America‘s target price indicates a potential upside of 25.00% from the company’s previous close.

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

Playtika Price Performance

PLTK opened at $5.20 on Wednesday. The stock has a market capitalization of $1.95 billion, a PE ratio of 8.97, a P/E/G ratio of 1.69 and a beta of 0.98. Playtika has a 12-month low of $3.97 and a 12-month high of $9.16. The firm’s fifty day moving average price is $6.22 and its 200 day moving average price is $7.20.

Institutional Investors Weigh In On Playtika

Large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of Playtika by 5.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 56,416 shares of the company’s stock worth $392,000 after acquiring an additional 2,886 shares during the last quarter. Mackenzie Financial Corp lifted its position in Playtika by 314.3% in the 4th quarter. Mackenzie Financial Corp now owns 49,596 shares of the company’s stock valued at $344,000 after purchasing an additional 37,625 shares during the last quarter. Neo Ivy Capital Management boosted its stake in Playtika by 756.9% during the 4th quarter. Neo Ivy Capital Management now owns 60,963 shares of the company’s stock valued at $423,000 after purchasing an additional 53,849 shares during the period. CSS LLC IL grew its position in Playtika by 78.9% in the 4th quarter. CSS LLC IL now owns 50,233 shares of the company’s stock worth $349,000 after purchasing an additional 22,161 shares during the last quarter. Finally, Woodline Partners LP increased its stake in shares of Playtika by 41.4% in the fourth quarter. Woodline Partners LP now owns 449,877 shares of the company’s stock valued at $3,122,000 after purchasing an additional 131,669 shares during the period. 11.94% of the stock is owned by institutional investors and hedge funds.

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.