Playtika Holding Corp . (NASDAQ:PLTK), a gaming company with a market capitalization of $3.1 billion and strong financial health according to InvestingPro, recently reported significant stock sales by major shareholders, according to a Form 4 filing with the Securities and Exchange Commission. The transactions, dated December 6 and December 9, involved the sale of 418,349 shares of Playtika's common stock, with a total value of approximately $3.59 million. The shares were sold at prices ranging from $8.5411 to $8.6402 per share. With the stock currently trading at a P/E ratio of 14.3 and showing strong free cash flow yield, InvestingPro analysis indicates the stock may be undervalued.
The filing lists several entities as reporting owners, including Playtika Holding UK II Ltd, Chongqing Cibi Business Information Consultancy Co. Ltd., Alpha Frontier Ltd, Equal Sino Ltd, Giant Network (LON:NETW) Group Co. Ltd., Hazlet Global Ltd, Jing Shi, and Shi Yuzhu. These entities are interconnected through various ownership structures, with significant economic interests held by Giant Network Group Co. Ltd. and its affiliated companies.
Following these transactions, the reporting owners collectively hold over 201 million shares of Playtika. The sales were executed for the economic benefit of a non-affiliated entity, which holds approximately 1% of the outstanding shares of the issuer. The transactions reflect ongoing movements in the holdings of Playtika's major shareholders. Notably, the stock has demonstrated low price volatility, with additional insights available through the comprehensive Pro Research Report on InvestingPro.
"In other recent news, Playtika Holding Corp. reported a slight decline in revenue and a significant drop in net income in their Q3 earnings call. The company's revenue reached $620.8 million, with net income falling to $39.3 million. Despite the downturn, the direct-to-consumer (DTC) segment showed growth, generating $174.4 million in revenue. Playtika has also adjusted its full-year revenue guidance to between $2.505 billion and $2.52 billion.
In a strategic move, Playtika announced the completion of its acquisition of SuperPlay, a mobile gaming company known for popular titles like Dice Dreams and Domino Dreams. This acquisition is expected to drive growth for Playtika by enhancing its game portfolio. The addition of SuperPlay's top-performing games is set to bolster Playtika's competitive edge in the dynamic mobile gaming sector. These are recent developments aimed at long-term growth for Playtika."
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