Scientific Games (NASDAQ:SGMS) Hits New 52-Week High at $33.86

Scientific Games Corp (NASDAQ:SGMS)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.86 and last traded at $33.36, with a volume of 43994 shares changing hands. The stock had previously closed at $30.31.

SGMS has been the subject of several recent analyst reports. Deutsche Bank raised their target price on shares of Scientific Games from $8.00 to $16.00 and gave the company a “hold” rating in a research note on Monday, July 27th. BidaskClub raised shares of Scientific Games from a “hold” rating to a “buy” rating in a report on Friday, August 7th. Zacks Investment Research raised shares of Scientific Games from a “strong sell” rating to a “hold” rating and set a $13.00 price target on the stock in a report on Tuesday, June 16th. Craig Hallum reissued a “buy” rating on shares of Scientific Games in a report on Friday, June 12th. Finally, SunTrust Banks raised their target price on shares of Scientific Games from $15.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $27.00.

The stock has a market capitalization of $2.87 billion, a P/E ratio of -7.98 and a beta of 2.44. The firm’s 50 day simple moving average is $19.85 and its two-hundred day simple moving average is $14.86.

Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported ($1.79) earnings per share for the quarter, beating the consensus estimate of ($1.91) by $0.12. The firm had revenue of $539.00 million during the quarter, compared to the consensus estimate of $462.99 million. Scientific Games had a negative net margin of 13.11% and a negative return on equity of 0.53%. Analysts expect that Scientific Games Corp will post -3.41 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in SGMS. SG Americas Securities LLC lifted its stake in shares of Scientific Games by 423.5% during the 1st quarter. SG Americas Securities LLC now owns 54,818 shares of the technology company’s stock valued at $532,000 after buying an additional 44,346 shares in the last quarter. Natixis Advisors L.P. increased its holdings in Scientific Games by 13.6% during the 1st quarter. Natixis Advisors L.P. now owns 52,548 shares of the technology company’s stock worth $509,000 after acquiring an additional 6,307 shares during the period. Russell Investments Group Ltd. increased its holdings in Scientific Games by 284.0% during the 1st quarter. Russell Investments Group Ltd. now owns 469,599 shares of the technology company’s stock worth $4,514,000 after acquiring an additional 347,322 shares during the period. First Trust Advisors LP increased its holdings in Scientific Games by 34.8% during the 1st quarter. First Trust Advisors LP now owns 108,117 shares of the technology company’s stock worth $1,049,000 after acquiring an additional 27,888 shares during the period. Finally, Swiss National Bank increased its holdings in Scientific Games by 1.5% during the 1st quarter. Swiss National Bank now owns 99,500 shares of the technology company’s stock worth $965,000 after acquiring an additional 1,500 shares during the period. Institutional investors own 59.49% of the company’s stock.

Scientific Games Company Profile (NASDAQ:SGMS)

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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