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Playtech ( (GB:PTEC) ) has issued an announcement.
Playtech plc announced the purchase of 145,000 ordinary shares as part of its £43.7 million share buyback program. These shares will be transferred to the company’s Employee Benefit Trust to fund awards under employee share schemes, with no change in the total number of shares or voting rights. This move is part of Playtech’s strategy to enhance shareholder value and maintain its market position.
The most recent analyst rating on (GB:PTEC) stock is a Hold with a £389.00 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 score is driven by its strong financial performance and reasonable valuation. However, bearish technical indicators and revenue challenges weigh on the score. The company’s strategic focus on high-growth markets and positive EBITDA guidance provide a cautiously optimistic outlook.
To see Spark’s full report on GB:PTEC stock, click here.
More about Playtech
Playtech, founded in 1999, is a leading technology company in the gambling industry, listed on the London Stock Exchange. It provides business intelligence-driven 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 across both retail and online platforms. The company partners with leading brands in regulated markets to deliver its technology on a B2B basis to online and retail operators, land-based casino groups, and government-sponsored entities like lotteries.
Average Trading Volume: 791,525
Technical Sentiment Signal: Buy
Current Market Cap: £1.08B
Find detailed analytics on PTEC stock on TipRanks’ Stock Analysis page.