Playtika Holding Corp. (NASDAQ:PLTK – Get Rating) received a significant drop in short-term interest rates in August. On August 15, there was short-term interest totaling 7,060,000 shares, down 23.6% from the total of 9,240,000 shares on July 31. About 10.7% of the company’s shares are sold short. Based on an average trading volume of 2,100,000 shares, the days-to-cover ratio is currently 3.4 days.
Analysts set new price targets
PLTK has been the subject of a number of recent investigative reports. Cowen lowered their target price on Playtika from $35.00 to $31.00 in a research report on Friday, Aug. 5. Credit Suisse Group lowered its price target on Playtika from $30.00 to $24.00 in a research report on Wednesday, May 11. The Goldman Sachs Group lowered its price target on Playtika from $17.00 to $15.00 and issued a “neutral” rating for the stock on Monday, Aug. 8 in a research report. Citigroup lowered its price target on Playtika from $17.00 to $15.00 and issued a “neutral” rating for the stock in a research report on Thursday, July 7. Finally, Bank of America reiterated an “underperform” rating and issued a $9.00 target for Playtika’s shares in a research report on Tuesday, Aug. 23. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have issued a buy recommendation. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.42.
Playtika trades 4.3% lower
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Playtika stock fell $0.49 in afternoon trading Friday, reaching $10.92. The company had a trading volume of 1,890,769 shares, compared to the average volume of 2,011,207. The company has a market cap of $4.51 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.88 and a beta of 0.20. The company’s 50-day moving average is $12.50 and its 200-day moving average is $15.32. Playtika has a 12-month low of $10.29 and a 12-month high of $30.00.
Institutional inflow and outflow
Several major investors have recently made changes to their positions in PLTK. Jeneq Management LP acquired a new position in Playtika shares worth approximately $51,379,000 in the first quarter. Assenagon Asset Management SA acquired a new position in Playtika worth $31,155,000 in the 2nd quarter. AQR Capital Management LLC increased its stake in Playtika by 273.2% in the 2nd quarter. AQR Capital Management LLC now owns 3,198,143 shares of the company worth $42,343,000 after purchasing 2,341,243 additional shares in the last quarter. Bank of Nova Scotia acquired a new position in Playtika worth $38,989,000 in the first quarter. Finally, TIG Advisors LLC acquired a new position in Playtika worth $24.48 million in the first quarter. 20.08% of the shares are held by institutional investors and hedge funds.
Playtika Company Profile
(Get a rating)
Playtika Holding Corp. develops mobile games in the United States, Europe, the Middle East, Africa, Asia-Pacific, and internationally. The company owns a portfolio of casual and casino themed games. It distributes its games to the end customer through various web and mobile platforms such as Apple, Facebook, Google and other web and mobile platforms and its own proprietary platforms.
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