Schwab Charles Investment Management Inc. boosted its stake in shares of Scientific Games Corp (NASDAQ:SGMS) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,551 shares of the technology company’s stock after purchasing an additional 9,491 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Scientific Games were worth $14,773,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in shares of Scientific Games in the 2nd quarter valued at $104,000. Sei Investments Co. raised its stake in shares of Scientific Games by 29,822.9% in the 2nd quarter. Sei Investments Co. now owns 14,363 shares of the technology company’s stock valued at $706,000 after buying an additional 14,315 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Scientific Games in the 2nd quarter valued at $208,000. EAM Investors LLC acquired a new position in shares of Scientific Games in the 2nd quarter valued at $2,114,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Scientific Games in the 2nd quarter valued at $719,000. Hedge funds and other institutional investors own 70.64% of the company’s stock.
Shares of NASDAQ:SGMS opened at $26.75 on Monday. Scientific Games Corp has a 12 month low of $25.30 and a 12 month high of $62.80. The company has a debt-to-equity ratio of -3.90, a quick ratio of 1.58 and a current ratio of 1.92. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -12.00 and a beta of 2.29.
Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings data on Thursday, August 2nd. The technology company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $844.70 million for the quarter, compared to the consensus estimate of $853.64 million. During the same period in the prior year, the company earned ($0.44) EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. analysts expect that Scientific Games Corp will post -0.67 earnings per share for the current fiscal year.
In other Scientific Games news, Director Ronald O. Perelman bought 175,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $31.73 per share, for a total transaction of $5,552,750.00. Following the transaction, the director now owns 88,032 shares in the company, valued at approximately $2,793,255.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gabrielle K. Mcdonald sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $49.71, for a total transaction of $248,550.00. Following the transaction, the director now owns 10,549 shares in the company, valued at $524,390.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 190,000 shares of company stock worth $6,036,900. Corporate insiders own 40.48% of the company’s stock.
Several equities research analysts have recently weighed in on SGMS shares. Jefferies Financial Group lowered their target price on shares of Scientific Games from $61.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, August 7th. ValuEngine lowered shares of Scientific Games from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Credit Suisse Group started coverage on shares of Scientific Games in a report on Tuesday, August 14th. They issued an “underperform” rating and a $31.00 target price on the stock. Zacks Investment Research lowered shares of Scientific Games from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Finally, BidaskClub raised shares of Scientific Games from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 31st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Scientific Games presently has an average rating of “Hold” and a consensus price target of $51.29.
Scientific Games Company Profile
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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