Playtech plc (LON:PTEC – Get Free Report)’s stock price traded up 16.5% during mid-day trading on Thursday . The company traded as high as GBX 384.80 and last traded at GBX 374.06. 1,257,735 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 11,017,529 shares. The stock had previously closed at GBX 321.20.
Analyst Ratings Changes
Several equities research analysts recently weighed in on PTEC shares. Deutsche Bank Aktiengesellschaft increased their price target on Playtech from GBX 443 to GBX 460 and gave the stock a “buy” rating in a report on Thursday, May 21st. Citigroup raised shares of Playtech to a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 405 price objective on shares of Playtech in a research report on Thursday.
View Our Latest Research Report on PTEC
Playtech Stock Performance
Playtech declared that its board has authorized a stock repurchase plan on Friday, March 27th that permits the company to repurchase 5,660,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling at Playtech
In other Playtech news, insider Chris McGinnis acquired 27,080 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of GBX 372 per share, for a total transaction of £100,737.60. Also, insider Mor Weizer acquired 71,321 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of GBX 375 per share, for a total transaction of £267,453.75. Insiders own 0.82% of the company’s stock.
Playtech Company Profile
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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