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Playtech ( (GB:PTEC) ) has shared an announcement.
Playtech PLC announced the purchase of 250,000 ordinary shares on the London Stock Exchange as part of its £43.7 million share buyback program. The shares, acquired through Goodbody Stockbrokers, are being transferred to the company’s Employee Benefit Trust to fund employee share schemes, maintaining the total number of shares and voting rights at 309,294,243. This strategic move is part of Playtech’s ongoing efforts to manage its capital structure and reward employees, potentially strengthening its market position and stakeholder relations.
The most recent analyst rating on (GB:PTEC) stock is a Hold with a £266.00 price target. To see the full list of analyst forecasts on Playtech stock, see the GB:PTEC Stock Forecast page.
Spark’s Take on GB:PTEC Stock
According to Spark, TipRanks’ AI Analyst, GB:PTEC is a Neutral.
Playtech’s overall stock score is driven by its mixed financial performance and undervaluation. While the company shows potential with strategic growth initiatives and a strong cash position, technical indicators highlight bearish momentum, and revenue challenges persist. The earnings call provides a cautiously optimistic outlook, but risks in emerging markets and revenue declines need to be addressed.
To see Spark’s full report on GB:PTEC stock, click here.
More about Playtech
Playtech, founded in 1999 and listed on the London Stock Exchange, is a leading technology company in the gambling industry. It offers gambling software, services, content, and platform technology across various product verticals such as casino, live casino, sports betting, bingo, and poker. Playtech is known for its omni-channel gambling technology, Playtech ONE, which integrates data-driven marketing, single wallet functionality, CRM, and responsible gambling solutions. The company partners with leading brands in regulated markets to provide its technology on a B2B basis to online and retail operators, casino groups, and government-sponsored entities.
Average Trading Volume: 1,275,172
Technical Sentiment Signal: Sell
Current Market Cap: £726.6M
For detailed information about PTEC stock, go to TipRanks’ Stock Analysis page.