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Why Do Investors Buy Stock In Playtika Holding Corp. (PLTK)?

Playtika Holding Corp. (NASDAQ:PLTK) has seen 4.33 million shares traded in the last trading session. The company, currently valued at $4.52B, closed the last trade at $10.44 per share which meant it gained $0.09 on the day or 0.87% during that session. The PLTK stock price is -187.36% off its 52-week high price of $30.00 and 5.75% above the 52-week low of $9.84. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.05 million shares traded. The 3-month trading volume is 2.45 million shares.

The consensus among analysts is that Playtika Holding Corp. (PLTK) is an Overweight stock at the moment, with a recommendation rating of 2.10. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 3 out of 13 have rated it as a Hold, with 8 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.19.

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Playtika Holding Corp. (NASDAQ:PLTK) trade information

Sporting 0.87% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the PLTK stock price touched $10.44 or saw a rise of 3.51%. Year-to-date, Playtika Holding Corp. shares have moved -39.62%, while the 5-day performance has seen it change -1.88%. Over the past 30 days, the shares of Playtika Holding Corp. (NASDAQ:PLTK) have changed -4.22%. Short interest in the company has seen 10.51 million shares shorted with days to cover at 4.72.

Wall Street analysts have a consensus price target for the stock at $17.92, which means that the shares’ value could jump 41.74% from current levels. The projected low price target is $9.00 while the price target rests at a high of $31.00. In that case, then, we find that the current price level is -196.93% off the targeted high while a plunge would see the stock lose 13.79% from current levels.

Playtika Holding Corp. (PLTK) estimates and forecasts

Figures show that Playtika Holding Corp. shares have underperformed across the wider relevant industry. The company’s shares have lost -42.54% over the past 6 months, with this year growth rate of -9.64%, compared to 8.90% for the industry. Revenue growth from the last financial year stood is estimated to be 5.60%.

10 analysts offering their estimates for the company have set an average revenue estimate of $678.71 million for the current quarter. 10 have an estimated revenue figure of $682.13 million for the next quarter concluding in Sep 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 30.60% over the past 5 years. Earnings growth for 2022 is a modest 215.10% while over the next 5 years, the company’s earnings are expected to increase by 0.31%.

PLTK Dividends

Playtika Holding Corp. is expected to release its next earnings report between February 23 and February 28 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Playtika Holding Corp. (NASDAQ:PLTK)’s Major holders

Insiders own 83.21% of the company shares, while shares held by institutions stand at 20.46% with a share float percentage of 121.83%. Investors are also buoyed by the number of investors in a company, with Playtika Holding Corp. having a total of 232 institutions that hold shares in the company. The top two institutional holders are Capital Research Global Investors with over 7.79 million shares worth more than $150.63 million. As of Mar 30, 2022, Capital Research Global Investors held 1.89% of shares outstanding.

The other major institutional holder is Price (T.Rowe) Associates Inc, with the holding of over 6.26 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $121.03 million and represent 1.52% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Amcap Fund and Price (T.Rowe) Mid Cap Growth Fund. As of Jun 29, 2022, the former fund manager holds about 1.02% shares in the company for having 4.22 million shares of worth $55.85 million while later fund manager owns 2.99 million shares of worth $57.77 million as of Mar 30, 2022, which makes it owner of about 0.72% of company’s outstanding stock.

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