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Playtech ( (GB:PTEC) ) has issued an update.
Playtech plc announced the purchase of 391,827 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 fund awards under employee share schemes. This transaction does not change the total number of shares in issue or voting rights, maintaining the figure at 309,294,243. This strategic move is part of Playtech’s ongoing efforts to manage its capital structure and reward its employees, reflecting its commitment to enhancing shareholder value.
The most recent analyst rating on (GB:PTEC) stock is a Buy with a £320.00 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 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 various 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 partners with leading brands in 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: 1,457,673
Technical Sentiment Signal: Hold
Current Market Cap: £867.6M
Learn more about PTEC stock on TipRanks’ Stock Analysis page.