Allspring Global Investments Holdings LLC. Decreases Position in Playtika Holding Corp.
October 26, 2023
🌥️Trending News
Allspring Global Investments Holdings LLC has recently announced that they have decreased their position in Playtika Holding ($NASDAQ:PLTK) Corp, a leading mobile gaming company. It owns and operates a portfolio of popular mobile, casual, and social games such as Slotomania, World Series of Poker, and Caesars Casino. The company is headquartered in Herzliya, Israel, and has operations in the United States, Canada, Europe, Latin America, and Asia. Given its impressive portfolio of products, PLAYTIKA HOLDING has seen a steady growth over the past decade.
Despite this impressive performance, Allspring Global Investments Holdings LLC has decided to reduce their position in Playtika Holding Corp. It is not yet known why the company has taken this step, but it could be because they are looking to diversify their investments. This news will likely have an impact on the stock price of Playtika Holding Corp in the near future.
Market Price
This followed the stock’s opening price of $9.5 and its eventual closing at $8.4, a decline from the previous closing price of $9.5. It is uncertain whether this decrease in stock value is simply a normal market fluctuation or if it is indicative of larger issues with the company. Investors have yet to comment on whether they will continue to hold their positions in the company or if they will sell off their stocks in response to the recent events. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Playtika Holding. More…
| Total Revenues | Net Income | Net Margin |
| 2.58k | 315.5 | 12.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Playtika Holding. More…
| Operations | Investing | Financing |
| 480.1 | -40.3 | -651.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Playtika Holding. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.85k | 3.19k | -0.94 |
Key Ratios Snapshot
Some of the financial key ratios for Playtika Holding are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.5% | -1.8% | 22.5% |
| FCF Margin | ROE | ROA |
| 15.3% | -90.0% | 12.7% |
Analysis
As a GoodWhale analyst, I am tasked with analyzing PLAYTIKA HOLDING‘s fundamentals. Upon investigation using Star Chart, I found that PLAYTIKA HOLDING is strong in growth and profitability, but weak in asset and dividend. After classifying PLAYTIKA HOLDING as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth, I then considered what type of investors may be interested in such a company. My findings suggest that PLAYTIKA HOLDING has a high health score of 8/10 considering its cashflows and debt, which means that it is capable to safely ride out any crisis without the risk of bankruptcy. Therefore, investors with a higher risk appetite who are looking for potential long-term investments may find PLAYTIKA HOLDING an attractive option. More…
Peers
Playtika Holding Corp, a company that specializes in developing social casino games, is in competition with Zengame Technology Holding Ltd, Santaro Interactive Entertainment Co, and MAG Interactive AB. These companies also develop social casino games and are Playtika Holding Corp’s main competitors.
– Zengame Technology Holding Ltd ($SEHK:02660)
As of 2022, Zengame Technology Holding Ltd has a market cap of 1.62B and a Return on Equity of 31.28%. The company operates in the online gaming industry and provides a platform for gamers to connect and compete with each other. Zengame Technology Holding Ltd is headquartered in Hong Kong.
– Santaro Interactive Entertainment Co ($OTCPK:STIE)
Santaro Interactive Entertainment Co is a publicly traded company with a market capitalization of 698.75k as of 2022. The company has a Return on Equity of 15.33%. Santaro Interactive Entertainment Co is a video game developer and publisher. The company was founded in 2006 and is headquartered in Hong Kong.
– MAG Interactive AB ($LTS:0GJ1)
Mag Interactive is a digital entertainment company that creates fun and engaging games for a global audience. The company has a portfolio of popular games that are played by millions of people around the world. Mag Interactive has a market cap of 670.32M as of 2022 and a ROE of 6.97%. The company’s games are available on a variety of platforms, including iOS, Android, and Facebook.
Summary
Investing analysis in Playtika Holding Corp. has been bearish in recent weeks, as their position has decreased by Allspring Global Investments Holdings LLC. This decrease in position was reflected in the stock price, as it moved down the same day. Although this suggests declining investor confidence, it is important to consider other factors that may have contributed to this movement. This includes an overall decrease in market sentiment, macroeconomic factors and company-specific news.
Additionally, the performance of Playtika’s competitors should be taken into account when making an investment decision. To better assess the company, investors should look at their overall financial performance, including revenue growth, earnings, and debt levels. Additionally, a fundamental analysis of the business model and competitive advantages can provide insight into the long term prospects of the company.
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