Key Points
- Insider buying: Playtech insider Chris McGinnis bought 27,080 shares on Wednesday, May 20 at an average price of GBX 372, for a total of £100,737.60.
- Stock and valuation snapshot: Playtech shares were trading at GBX 365, near their 50-day moving average of GBX 368.18 and well above the 200-day average of GBX 316.16. The stock has ranged from GBX 210 to GBX 447 over the past year.
- Company actions and analyst views: Playtech authorized a share buyback for up to 5,660,000 shares, which can signal management thinks the stock is undervalued. Analysts remain mixed, with recent ratings including buy, hold, and price target adjustments around the GBX 390-405 range.
Playtech plc (LON:PTEC - Get Free Report) insider Chris McGinnis purchased 27,080 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of GBX 372 per share, with a total value of £100,737.60.
Playtech Stock Performance
Shares of Playtech stock opened at GBX 365 on Thursday. The company has a 50 day moving average of GBX 368.18 and a 200-day moving average of GBX 316.16. Playtech plc has a 1-year low of GBX 210 and a 1-year high of GBX 447. The company has a current ratio of 1.42, a quick ratio of 1.09 and a debt-to-equity ratio of 24.36. The company has a market cap of £1.01 billion, a PE ratio of 0.75, a price-to-earnings-growth ratio of 1.28 and a beta of 0.65.
Playtech announced that its Board of Directors has authorized a share buyback program on Friday, March 27th that permits the company to buyback 5,660,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of analysts have recently weighed in on PTEC shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Playtech from GBX 433 to GBX 390 and set a "buy" rating for the company in a report on Friday, January 23rd. Jefferies Financial Group reiterated a "hold" rating and set a GBX 405 price objective on shares of Playtech in a research report on Wednesday. Finally, Citigroup upped their price objective on shares of Playtech from GBX 355 to GBX 400 and gave the stock a "buy" rating in a research report on Monday, March 30th.
Check Out Our Latest Report on Playtech
Playtech Company Profile
(
Get Free Report)
Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.
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