BidaskClub upgraded shares of Scientific Games (NASDAQ:SGMS) from a sell rating to a hold rating in a research note released on Friday morning, BidAskClub reports.
A number of other equities research analysts have also weighed in on the stock. Telsey Advisory Group reaffirmed an outperform rating and set a $31.00 target price (down previously from $36.00) on shares of Scientific Games in a research note on Wednesday, May 8th. Deutsche Bank cut their target price on shares of Scientific Games from $26.00 to $22.00 and set an in-line rating on the stock in a research note on Wednesday, May 8th. Finally, ValuEngine raised shares of Scientific Games from a sell rating to a hold rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $29.00.
Scientific Games stock traded down $0.22 during trading hours on Friday, reaching $20.55. The stock had a trading volume of 3,847,357 shares, compared to its average volume of 1,053,103. The stock has a market cap of $1.90 billion, a PE ratio of -38.06, a PEG ratio of 72.18 and a beta of 2.21. Scientific Games has a 52 week low of $14.79 and a 52 week high of $39.60. The company’s fifty day simple moving average is $19.59.
Scientific Games (NASDAQ:SGMS) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.19. The business had revenue of $837.00 million for the quarter, compared to analyst estimates of $832.28 million. Scientific Games had a negative net margin of 5.15% and a negative return on equity of 0.60%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned ($2.24) EPS. Analysts expect that Scientific Games will post 0.03 EPS for the current fiscal year.
In other Scientific Games news, Director Ronald O. Perelman purchased 110,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was bought at an average cost of $19.73 per share, with a total value of $2,170,300.00. Following the transaction, the director now directly owns 7,519 shares in the company, valued at approximately $148,349.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald O. Perelman purchased 120,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were acquired at an average cost of $20.29 per share, with a total value of $2,434,800.00. Following the completion of the transaction, the director now owns 7,519 shares in the company, valued at $152,560.51. The disclosure for this purchase can be found here. Company insiders own 40.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mason Street Advisors LLC lifted its position in Scientific Games by 2.1% during the 1st quarter. Mason Street Advisors LLC now owns 29,433 shares of the technology company’s stock valued at $601,000 after acquiring an additional 612 shares during the period. Retirement Systems of Alabama lifted its position in Scientific Games by 1.0% during the 1st quarter. Retirement Systems of Alabama now owns 72,050 shares of the technology company’s stock valued at $1,471,000 after acquiring an additional 714 shares during the period. Arizona State Retirement System lifted its position in Scientific Games by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 40,465 shares of the technology company’s stock valued at $802,000 after acquiring an additional 721 shares during the period. Legal & General Group Plc lifted its position in Scientific Games by 1.9% during the 4th quarter. Legal & General Group Plc now owns 53,426 shares of the technology company’s stock valued at $956,000 after acquiring an additional 1,017 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Scientific Games by 8.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 13,937 shares of the technology company’s stock valued at $249,000 after acquiring an additional 1,031 shares during the period. 64.24% of the stock is owned by institutional investors.
About Scientific Games
Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and digital gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, 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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