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Playtech ( (GB:PTEC) ) has issued an update.
Playtech has announced the purchase of 389,446 ordinary shares as part of its £43.7 million share buyback program. The shares, acquired through Jefferies International Limited, will be transferred to the company’s Employee Benefit Trust to fund employee share schemes. This move ensures that the total number of shares in issue and voting rights remains unchanged, maintaining the current shareholder structure. The buyback program reflects Playtech’s strategy to manage its capital structure effectively and reward its employees, potentially enhancing shareholder value and reinforcing its market position.
The most recent analyst rating on (GB:PTEC) stock is a Hold with a £306.00 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 strong valuation and strategic focus on high-growth markets, despite challenges in revenue growth and technical indicators suggesting bearish momentum. The company’s financial performance shows potential for stabilization, but consistent profitability and growth remain areas for improvement.
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 provides business intelligence-driven gambling software, services, content, and platform technology across popular product verticals such as casino, live casino, sports betting, bingo, and poker. Playtech is known for its omni-channel gambling technology through its integrated platform, Playtech ONE, which offers data-driven marketing, single wallet functionality, CRM, and responsible gambling solutions. The company operates on a B2B basis, partnering with leading brands in regulated markets to deliver its technology across the online and retail value chain.
Average Trading Volume: 1,447,263
Technical Sentiment Signal: Hold
Current Market Cap: £855.5M
For an in-depth examination of PTEC stock, go to TipRanks’ Overview page.