Playtika (NASDAQ:PLTK) Cut to Hold at Baird R W

Playtika (NASDAQ:PLTK - Get Free Report) was downgraded by investment analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a research report issued on Friday,Zacks.com reports.A number of other research firms have also recently weighed in on PLTK. Wedbush reiterated an "outperform" rating and issued a $11.50 target price on shares of Playtika in a research note on Wednesday. Macquarie decreased their target price on Playtika from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Friday. Roth Mkm upped their price target on Playtika from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Finally, Robert W. Baird restated a "neutral" rating and issued a $6.00 price objective (down from $9.00) on shares of Playtika in a research note on Friday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $8.21.View Our Latest Research Report on PLTKPlaytika Price PerformanceNASDAQ PLTK opened at $5.28 on Friday. The business's fifty day moving average is $7.02 and its 200-day moving average is $7.54. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.69 and a beta of 0.92. Playtika has a one year low of $5.22 and a one year high of $9.15. Insider Activity at PlaytikaIn other news, major shareholder Holding Uk Ltd Playtika II sold 291,508 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $8.17, for a total transaction of $2,381,620.36. Following the completion of the transaction, the insider now directly owns 201,000,143 shares in the company, valued at $1,642,171,168.31. The trade was a 0.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 491,921 shares of company stock valued at $4,004,775. Corporate insiders own 4.80% of the company's stock. Hedge Funds Weigh In On PlaytikaSeveral hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its holdings in shares of Playtika by 8.8% during the third quarter. Pacer Advisors Inc. now owns 10,249,684 shares of the company's stock worth $81,177,000 after purchasing an additional 829,372 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Playtika by 9.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,926,854 shares of the company's stock worth $20,312,000 after buying an additional 241,658 shares in the last quarter. Arrowstreet Capital Limited Partnership increased 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 buying an additional 1,109,594 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Playtika by 13.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,685,196 shares of the company's stock valued at $21,267,000 after buying an additional 326,890 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Playtika by 1.2% during the 3rd quarter. FMR LLC now owns 1,339,801 shares of the company's stock worth $10,611,000 after acquiring an additional 15,471 shares during the last quarter. 11.94% of the stock is currently owned by hedge funds and other institutional investors. Playtika Company Profile (Get Free Report)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.See AlsoFive stocks we like better than PlaytikaHow to Use High Beta Stocks to Maximize Your Investing ProfitsAnalysts Lift Archer Aviation Stock Despite Earnings Miss Investing in Construction Stocks5 Best Gold ETFs for March to Curb Recession FearsElection Stocks: How Elections Affect the Stock Market3 Stocks for Your Watchlist: Unlocking Tomorrow’s Winners TodayThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Playtika Right Now?Before you consider Playtika, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Playtika wasn't on the list.While Playtika currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here