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Playtech ( (GB:PTEC) ) has issued an announcement.
Playtech plc announced the purchase of 429,239 ordinary shares as part of its £43.7 million share buyback program. The shares, acquired through Jefferies International Limited, are being transferred to the company’s Employee Benefit Trust to support its employee share schemes. This transaction maintains the total number of shares and voting rights at 309,294,243, ensuring no change in shareholder interests. This strategic move is part of Playtech’s ongoing efforts to manage its capital structure and enhance shareholder value.
The most recent analyst rating on (GB:PTEC) stock is a Sell with a £215.00 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 Outperform.
Playtech’s overall stock score is driven by its strong valuation and positive corporate events, which enhance shareholder value. While financial performance shows potential, challenges in revenue growth and profitability need addressing. Technical indicators are favorable, supporting a positive outlook, but caution is advised due to potential overbought conditions.
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 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 collaborates with leading brands in regulated markets, offering its technology on a B2B basis to online and retail operators, land-based casino groups, and government-sponsored entities.
Average Trading Volume: 1,376,352
Technical Sentiment Signal: Hold
Current Market Cap: £885.8M
For a thorough assessment of PTEC stock, go to TipRanks’ Stock Analysis page.