Playtika (NASDAQ:PLTK) Upgraded by Bank of America to “Buy” Rating

Playtika (NASDAQ:PLTK) was upgraded by research analysts at Bank of America from an “underperform” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Finviz reports. The firm currently has a $6.50 price objective on the stock, up from their prior price objective of $6.00. Bank of America‘s price objective would indicate a potential upside of 47.73% from the company’s previous close.

PLTK has been the subject of a number of other reports. Macquarie reduced their price target on shares of Playtika from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. Robert W. Baird reaffirmed a “neutral” rating and issued a $6.00 target price (down previously from $9.00) on shares of Playtika in a research report on Friday, February 28th. Wedbush reiterated an “outperform” rating and set a $11.50 target price on shares of Playtika in a research note on Wednesday, February 26th. Baird R W downgraded Playtika from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Citigroup cut 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Playtika currently has a consensus rating of “Hold” and an average price target of $8.09.

Playtika Price Performance

Playtika stock opened at $4.40 on Wednesday. Playtika has a one year low of $3.97 and a one year high of $9.16. The business’s fifty day moving average is $6.29 and its 200 day moving average is $7.23. The stock has a market capitalization of $1.65 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98.

Institutional Trading of Playtika

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC grew its stake in shares of Playtika by 23.2% during the 3rd quarter. Penserra Capital Management LLC now owns 142,564 shares of the company’s stock valued at $1,129,000 after acquiring an additional 26,801 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Playtika by 13.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company’s stock valued at $21,267,000 after purchasing an additional 326,890 shares in the last quarter. FMR LLC boosted its position in shares of Playtika by 1.2% in the third quarter. FMR LLC now owns 1,339,801 shares of the company’s stock worth $10,611,000 after purchasing an additional 15,471 shares during the period. Captrust Financial Advisors increased its stake in shares of Playtika by 14.3% in the third quarter. Captrust Financial Advisors now owns 21,474 shares of the company’s stock worth $170,000 after purchasing an additional 2,694 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Playtika during the 3rd quarter valued at $1,473,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

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.