Charles Schwab Investment Management Inc. Lowers Stock Position in Playtika Holding Corp. (NASDAQ:PLTK)

Charles Schwab Investment Management Inc. lowered its stake in shares of Playtika Holding Corp. (NASDAQ:PLTK) by 10.4% in the fourth quarter, Holdings Channel reports. The firm owned 295,525 shares of the company’s stock after selling 34,205 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Playtika were worth $2,051,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PLTK. Allspring Global Investments Holdings LLC grew its position in Playtika by 23,814.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock worth $4,592,000 after acquiring an additional 663,700 shares during the period. State Street Corp increased its holdings in Playtika by 12.9% in the third quarter. State Street Corp now owns 1,317,709 shares of the company’s stock valued at $10,564,000 after buying an additional 150,878 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Playtika by 14.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,137,595 shares of the company’s stock valued at $9,010,000 after purchasing an additional 142,112 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Playtika by 102.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,150 shares of the company’s stock worth $635,000 after acquiring an additional 40,604 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Playtika by 76.2% during the 4th quarter. SG Americas Securities LLC now owns 175,008 shares of the company’s stock worth $1,215,000 after buying an additional 75,702 shares during the last quarter. 11.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLTK has been the topic of a number of research reports. Bank of America upgraded Playtika from an “underperform” rating to a “buy” rating and boosted their price target for the company from $6.00 to $6.50 in a research report on Wednesday. Macquarie decreased their price objective on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $6.00 price objective (down previously from $9.00) on shares of Playtika in a research note on Friday, February 28th. Baird R W downgraded Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Citigroup dropped their price objective on Playtika from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.09.

Playtika Stock Performance

Shares of PLTK stock opened at $5.20 on Friday. Playtika Holding Corp. has a twelve month low of $3.97 and a twelve month high of $9.16. The company has a market capitalization of $1.95 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The firm has a fifty day simple moving average of $6.18 and a 200-day simple moving average of $7.19.

Playtika Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 7.69%. The ex-dividend date of this dividend is Friday, March 21st. Playtika’s dividend payout ratio is currently 90.91%.

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.