Magnetar Financial LLC Purchases New Stake in Playtika Holding Corp. (NASDAQ:PLTK)

Magnetar Financial LLC acquired a new position in shares of Playtika Holding Corp. (NASDAQ:PLTK) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,780 shares of the company’s stock, valued at approximately $85,000.

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

Analysts Set New Price Targets

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

Playtika Stock Performance

Shares of NASDAQ PLTK opened at $7.97 on Friday. The company’s 50 day moving average price is $7.46 and its 200-day moving average price is $7.65. Playtika Holding Corp. has a 52-week low of $6.25 and a 52-week high of $9.87. The company has a market capitalization of $2.96 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.61 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last released its earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Playtika had a net margin of 8.44% and a negative return on equity of 127.12%. The business had revenue of $627.00 million for the quarter, compared to analyst estimates of $640.27 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. Playtika’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts forecast that Playtika Holding Corp. will post 0.73 earnings per share for the current 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 of this dividend is Friday, September 20th. This represents a $0.40 annualized dividend and a yield of 5.02%. Playtika’s dividend payout ratio is currently 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.