Shares of Scientific Games Corp (NASDAQ:SGMS) have earned an average recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $42.20.
SGMS has been the subject of several recent research reports. Stifel Nicolaus raised their target price on shares of Scientific Games from $35.00 to $40.00 and gave the company a “hold” rating in a report on Monday, September 18th. Bank of America restated a “buy” rating and set a $50.00 target price (up from $38.00) on shares of Scientific Games in a report on Wednesday, September 20th. Finally, Craig Hallum restated a “buy” rating and set a $56.00 target price (up from $45.00) on shares of Scientific Games in a report on Thursday, October 5th.
In related news, Director Richard M. Haddrill sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $51.28, for a total value of $410,240.00. Following the sale, the director now directly owns 136,542 shares of the company’s stock, valued at $7,001,873.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David L. Kennedy sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $48.26, for a total transaction of $1,930,400.00. Following the completion of the sale, the director now directly owns 63,551 shares in the company, valued at $3,066,971.26. The disclosure for this sale can be found here. Insiders have sold a total of 195,384 shares of company stock worth $9,436,666 over the last ninety days. 40.61% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sylebra HK Co Ltd raised its holdings in Scientific Games by 0.4% in the second quarter. Sylebra HK Co Ltd now owns 8,619,044 shares of the technology company’s stock valued at $224,957,000 after buying an additional 36,275 shares during the period. BlackRock Inc. raised its holdings in Scientific Games by 1.4% in the second quarter. BlackRock Inc. now owns 6,204,986 shares of the technology company’s stock valued at $161,950,000 after buying an additional 84,128 shares during the period. Whale Rock Capital Management LLC raised its holdings in Scientific Games by 48.0% in the third quarter. Whale Rock Capital Management LLC now owns 2,093,468 shares of the technology company’s stock valued at $95,986,000 after buying an additional 678,561 shares during the period. Renaissance Technologies LLC raised its holdings in Scientific Games by 152.3% in the second quarter. Renaissance Technologies LLC now owns 1,538,848 shares of the technology company’s stock valued at $40,164,000 after buying an additional 928,800 shares during the period. Finally, State Street Corp raised its holdings in Scientific Games by 5.4% in the second quarter. State Street Corp now owns 1,279,638 shares of the technology company’s stock valued at $33,399,000 after buying an additional 65,816 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.
Scientific Games (SGMS) opened at $49.95 on Monday. The company has a quick ratio of 1.45, a current ratio of 1.83 and a debt-to-equity ratio of -4.07. The stock has a market cap of $4,480.00, a PE ratio of -14.27 and a beta of 2.65. Scientific Games has a twelve month low of $13.65 and a twelve month high of $54.95.
Scientific Games (NASDAQ:SGMS) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.22). The firm had revenue of $768.90 million for the quarter, compared to analyst estimates of $748.56 million. During the same period in the previous year, the company earned ($1.13) EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. analysts forecast that Scientific Games will post -2.47 earnings per share for the current fiscal year.
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Scientific Games Company Profile
Scientific Games Corporation is a developer of technology-based products and services and associated content for the gaming, lottery and interactive gaming industries. Its segments include Gaming, Lottery and Interactive. Its portfolio includes gaming machines and game content, casino management systems, table game products and services, instant and draw-based lottery games, server-based gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions.
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