Choreo LLC Makes New Investment in Playtika Holding Corp. (NASDAQ:PLTK)

Choreo LLC bought a new position in shares of Playtika Holding Corp. (NASDAQ:PLTK) during the 2nd quarter, HoldingsChannel reports. The fund bought 16,187 shares of the company’s stock, valued at approximately $124,000.

Other large investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Playtika during the second quarter worth approximately $31,000. Versant Capital Management Inc acquired a new stake in shares of Playtika in the 2nd quarter worth $36,000. Acadian Asset Management LLC purchased a new position in shares of Playtika during the 2nd quarter worth $43,000. Banque Cantonale Vaudoise purchased a new position in shares of Playtika during the 1st quarter worth $82,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Playtika in the second quarter valued at about $83,000. 11.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Playtika Trading Down 4.5 %

PLTK stock opened at $7.82 on Friday. The business’s fifty day moving average price is $7.47 and its 200 day moving average price is $7.62. Playtika Holding Corp. has a 12-month low of $6.25 and a 12-month high of $10.28. The company has a market capitalization of $2.91 billion, a PE ratio of 14.22, a P/E/G ratio of 1.01 and a beta of 0.85.

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

Playtika Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be given a $0.10 dividend. The ex-dividend date is Friday, September 20th. This represents a $0.40 annualized dividend and a yield of 5.12%. Playtika’s dividend payout ratio is presently 72.73%.

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.