Playtika (NASDAQ:PLTK) Hits New 1-Year Low at $11.19

August 22, 2022 World Earnings & Filings Industry Updates

Playtika Holding Corp. (NASDAQ:PLTK – Get Rating)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $11.19 and last traded at $11.22, with a volume of 638 shares changing hands. The stock had previously closed at $11.55.

Analysts Set New Price Targets
A number of equities analysts recently commented on PLTK shares. The Goldman Sachs Group lowered their target price on Playtika from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, August 8th. Citigroup lowered their target price on Playtika from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, July 7th. Morgan Stanley lowered their target price on Playtika from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, June 13th. Wedbush lowered their target price on Playtika from $35.00 to $22.00 in a report on Wednesday, May 11th. Finally, Cowen decreased their price objective on Playtika from $35.00 to $31.00 in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Playtika presently has an average rating of “Moderate Buy” and an average price target of $22.46.

Playtika Stock Performance
The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 14.73 and a beta of 0.20. The firm has a 50-day moving average price of $12.74 and a two-hundred day moving average price of $15.52.

Institutional Investors Weigh In On Playtika
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in shares of Playtika by 150.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,213,665 shares of the company’s stock worth $16,069,000 after acquiring an additional 728,241 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Playtika during the 2nd quarter worth about $2,693,000. Parallax Volatility Advisers L.P. raised its position in shares of Playtika by 157.0% during the 2nd quarter. Parallax Volatility Advisers L.P. now owns 48,244 shares of the company’s stock worth $639,000 after acquiring an additional 132,948 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Playtika by 833.9% during the 2nd quarter. Captrust Financial Advisors now owns 3,549 shares of the company’s stock worth $47,000 after acquiring an additional 3,169 shares in the last quarter. Finally, Caledonia Private Investments Pty Ltd increased its position in Playtika by 0.9% during the second quarter. Caledonia Private Investments Pty Ltd now owns 5,540,936 shares of the company’s stock worth $73,362,000 after buying an additional 48,943 shares during the period. Institutional investors and hedge funds own 20.08% of the company’s stock.