Pallas Capital Advisors LLC Sells 19,179 Shares of Playtika Holding Corp. (NASDAQ:PLTK)

Pallas Capital Advisors LLC lessened its holdings in shares of Playtika Holding Corp. (NASDAQ:PLTK) by 42.3% during the 1st quarter, Holdings Channel reports. The firm owned 26,136 shares of the company’s stock after selling 19,179 shares during the period. Pallas Capital Advisors LLC’s holdings in Playtika were worth $135,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Playtika by 9.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,926,854 shares of the company’s stock valued at $20,312,000 after buying an additional 241,658 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Playtika by 61.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,923,616 shares of the company’s stock worth $20,290,000 after purchasing an additional 1,109,594 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Playtika by 2.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,160,806 shares of the company’s stock valued at $8,056,000 after acquiring an additional 23,211 shares during the period. Quantinno Capital Management LP boosted its holdings in Playtika by 76.0% during the 4th quarter. Quantinno Capital Management LP now owns 692,975 shares of the company’s stock valued at $4,809,000 after acquiring an additional 299,278 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Playtika by 23,814.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,487 shares of the company’s stock valued at $4,592,000 after acquiring an additional 663,700 shares during the period. Institutional investors own 11.94% of the company’s stock.

Playtika Stock Performance

Shares of PLTK stock opened at $4.68 on Friday. The stock’s fifty day moving average is $4.95 and its two-hundred day moving average is $6.03. The firm has a market capitalization of $1.76 billion, a P/E ratio of 8.07, a PEG ratio of 1.69 and a beta of 0.85. Playtika Holding Corp. has a fifty-two week low of $3.97 and a fifty-two week high of $8.80.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). Playtika had a negative return on equity of 144.73% and a net margin of 8.52%. The company had revenue of $706.00 million for the quarter, compared to analysts’ expectations of $699.67 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that Playtika Holding Corp. will post 0.65 earnings per share for the current year.

Playtika Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 23rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date is Monday, June 23rd. Playtika’s payout ratio is 105.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Bank of America raised Playtika from an “underperform” rating to a “buy” rating and lifted their target price for the company from $6.00 to $6.50 in a research report on Wednesday, March 26th. Baird R W lowered Playtika from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $6.00 target price (down from $9.00) on shares of Playtika in a research report on Friday, February 28th. Macquarie cut their price objective on Playtika from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, Morgan Stanley dropped their price objective on shares of Playtika from $7.25 to $5.75 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.78.

Insider Buying and Selling

In other news, major shareholder Holding Uk Ltd Playtika II sold 150,869 shares of Playtika stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $4.77, for a total value of $719,645.13. Following the completion of the transaction, the insider now owns 199,359,642 shares in the company, valued at approximately $950,945,492.34. This trade represents a 0.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 739,922 shares of company stock valued at $3,548,194. 5.10% of the stock is currently owned by insiders.

About Playtika

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.