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An announcement from Playtech ( (GB:PTEC) ) is now available.
Playtech PLC announced the purchase of 358,536 ordinary shares as part of its £43.7 million share buyback program. The shares, purchased through Jefferies International Limited, are being transferred to the company’s Employee Benefit Trust to fund awards under employee share schemes. This transaction does not affect the total number of shares in issue or voting rights, maintaining the count at 309,294,243. This move is part of Playtech’s strategy to manage its capital structure and enhance shareholder value, reflecting its strong financial position and commitment to rewarding its employees.
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 provider in the gambling industry. It offers business intelligence-driven gambling software, services, content, and platform technology across various 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 provides data-driven marketing, single wallet functionality, CRM, and responsible gambling solutions. The company partners with leading brands in regulated and newly regulated markets, providing technology on a B2B basis to online and retail operators, land-based casino groups, and government-sponsored entities like lotteries.
Average Trading Volume: 1,436,107
Technical Sentiment Signal: Buy
Current Market Cap: £866.1M
Learn more about PTEC stock on TipRanks’ Stock Analysis page.