Scientific Games (NASDAQ:SGMS) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
Other analysts have also issued reports about the company. Bank of America dropped their price objective on Scientific Games from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, March 2nd. ValuEngine raised Scientific Games from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research raised Scientific Games from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, May 2nd. Finally, Telsey Advisory Group lifted their price target on Scientific Games from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $58.50.
Shares of SGMS opened at $49.15 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of -4.00. Scientific Games has a 12 month low of $24.05 and a 12 month high of $62.80. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of -22.04 and a beta of 2.50.
Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings data on Thursday, May 3rd. The technology company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.91). The business had revenue of $812.00 million during the quarter, compared to the consensus estimate of $792.62 million. During the same quarter in the prior year, the firm posted ($1.14) earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. research analysts anticipate that Scientific Games will post -0.78 earnings per share for the current year.
In other news, Director Richard M. Haddrill sold 40,000 shares of Scientific Games stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $52.06, for a total value of $2,082,400.00. Following the sale, the director now directly owns 282,038 shares of the company’s stock, valued at $14,682,898.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Derik Mooberry sold 84,174 shares of Scientific Games stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $59.82, for a total value of $5,035,288.68. Following the completion of the sale, the executive vice president now directly owns 69,899 shares in the company, valued at $4,181,358.18. The disclosure for this sale can be found here. Insiders sold 274,208 shares of company stock worth $14,789,882 over the last ninety days. Corporate insiders own 40.48% of the company’s stock.
Several large investors have recently modified their holdings of the company. LS Investment Advisors LLC lifted its position in Scientific Games by 42.9% during the first quarter. LS Investment Advisors LLC now owns 4,441 shares of the technology company’s stock worth $185,000 after buying an additional 1,333 shares in the last quarter. Verition Fund Management LLC purchased a new position in Scientific Games during the first quarter worth approximately $222,000. Bluestein R H & Co. purchased a new position in Scientific Games during the first quarter worth approximately $225,000. Dynamic Technology Lab Private Ltd purchased a new position in Scientific Games during the first quarter worth approximately $232,000. Finally, Advantus Capital Management Inc purchased a new position in Scientific Games during the first quarter worth approximately $271,000. 63.57% of the stock is currently owned by hedge funds and other institutional investors.
About Scientific Games
Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and interactive gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals (VLTs), conversion game kits, and spare parts; slot, casino, and table-management systems; table products, including shufflers; and perpetual licenses to proprietary table games.
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