The share price of Playtika Holding Corp. (NASDAQ:PLTK) rose to $9.45 per share on Wednesday from $9.31. While Playtika Holding Corp. has overperformed by 1.50%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PLTK fell by -48.02%, with highs and lows ranging from $21.45 to $8.39, whereas the simple moving average fell by -30.85% in the last 200 days.
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On October 12, 2022, BTIG Research Downgraded Playtika Holding Corp. (NASDAQ: PLTK) to Neutral. MKM Partners also Downgraded PLTK shares as ‘Neutral’, setting a target price of $13.50 on the company’s shares in a report dated August 05, 2022. Goldman April 19, 2022d the rating to Neutral on April 19, 2022, and set its price target from $27 to $22. Citigroup initiated its ‘Neutral’ rating for PLTK, as published in its report on March 21, 2022. DA Davidson’s report from December 17, 2021 suggests a price prediction of $25 for PLTK shares, giving the stock a ‘Buy’ rating. Macquarie also rated the stock as ‘Outperform’.
Analysis of Playtika Holding Corp. (PLTK)
Further, the quarter-over-quarter increase in sales is 1.90%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Playtika Holding Corp.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -130.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and PLTK is recording an average volume of 2.43M. On a monthly basis, the volatility of the stock is set at 5.15%, whereas on a weekly basis, it is put at 3.83%, with a loss of -4.83% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.00, showing growth from the present price of $9.45, which can serve as yet another indication of whether PLTK is worth investing in or should be passed over.
How Do You Analyze Playtika Holding Corp. Shares?
A leading company in the Electronic Gaming & Multimedia sector, Playtika Holding Corp. (PLTK) is based in the Israel. When comparing Playtika Holding Corp. shares with other companies under Communication Services, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 13.40, there is a growth in quarterly earnings of -15.50%.
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 87.27%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 21.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PLTK shares?
The recent increase in stakes in PLTK appears to be a result of several institutional investors and hedge funds increasing their positions. Millennium Management LLC’s position in PLTK has increased by 1,228.38% in the first quarter. The company now owns 7,375,777 shares of the stock, with a value of $69.7 million, following the purchase of 6,820,529 additional shares during the last quarter. Senvest Management LLC made another increased to its shares in PLTK during the first quarter, upping its stake by 2.52%. During the last quarter, the company picked up 165,000 additional shares for a total stake of worth $63.54 million, bringing number of shares owned by the company to 6,724,067.
During the first quarter, AQR Capital Management LLC added a 1,338,601 position in PLTK. BlackRock Fund Advisors sold an additional -0.13 million shares in the last quarter, decreasing its holdings by -3.21%, now holding 3.79 million shares worth $35.84 million. At the end of the first quarter, The Vanguard Group, Inc. decreased its PLTK holdings by -6.46% and now holds 3.33 million PLTK shares valued at $31.47 million with the lessened -0.23 million shares during the period. PLTK shares are owned by institutional investors to the tune of 21.00% at present.