Scientific Games (NASDAQ:SGMS) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.
Several other equities analysts have also recently weighed in on the stock. SunTrust Banks began coverage on shares of Scientific Games in a research note on Monday, October 1st. They issued a “buy” rating and a $36.00 target price for the company. ValuEngine cut shares of Scientific Games from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Credit Suisse Group began coverage on shares of Scientific Games in a research note on Tuesday, August 14th. They issued an “underperform” rating and a $31.00 target price for the company. TheStreet cut shares of Scientific Games from a “c-” rating to a “d+” rating in a research note on Friday, August 3rd. Finally, Jefferies Financial Group decreased their target price on shares of Scientific Games from $61.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, August 7th. 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 company. The company currently has a consensus rating of “Hold” and a consensus price target of $48.43.
NASDAQ:SGMS opened at $22.88 on Friday. Scientific Games has a 1-year low of $18.21 and a 1-year high of $62.80. The firm has a market capitalization of $1.83 billion, a P/E ratio of -10.26 and a beta of 2.29.
Scientific Games (NASDAQ:SGMS) last released its earnings results on Thursday, August 2nd. The technology company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $844.70 million during the quarter, compared to the consensus estimate of $853.64 million. During the same period in the prior year, the business posted ($0.44) earnings per share. Scientific Games’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that Scientific Games will post -0.57 EPS for the current fiscal year.
In related news, Director Ronald O. Perelman acquired 175,000 shares of Scientific Games stock in a transaction on Monday, August 13th. The stock was purchased at an average cost of $31.73 per share, with a total value of $5,552,750.00. Following the completion of the transaction, the director now directly owns 88,032 shares in the company, valued at approximately $2,793,255.36. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Barry L. Cottle acquired 10,000 shares of Scientific Games stock in a transaction on Thursday, August 9th. The shares were bought at an average cost of $33.24 per share, with a total value of $332,400.00. Following the completion of the transaction, the insider now owns 76,287 shares of the company’s stock, valued at $2,535,779.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 195,000 shares of company stock valued at $6,160,700. Company insiders own 40.48% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SGMS. Whale Rock Capital Management LLC boosted its position in Scientific Games by 25.0% during the second quarter. Whale Rock Capital Management LLC now owns 2,610,625 shares of the technology company’s stock worth $128,312,000 after purchasing an additional 522,724 shares during the period. BlackRock Inc. boosted its position in Scientific Games by 6.3% during the second quarter. BlackRock Inc. now owns 6,072,629 shares of the technology company’s stock worth $298,469,000 after purchasing an additional 361,648 shares during the period. RWC Asset Management LLP boosted its position in Scientific Games by 71.4% during the second quarter. RWC Asset Management LLP now owns 600,000 shares of the technology company’s stock worth $29,490,000 after purchasing an additional 250,000 shares during the period. Seven Eight Capital LP boosted its position in Scientific Games by 816.8% during the third quarter. Seven Eight Capital LP now owns 111,021 shares of the technology company’s stock worth $2,820,000 after purchasing an additional 98,912 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Scientific Games by 197.8% during the first quarter. The Manufacturers Life Insurance Company now owns 123,664 shares of the technology company’s stock worth $5,144,000 after purchasing an additional 82,136 shares during the period. 65.97% of the stock is owned by hedge funds and other institutional investors.
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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