ProShare Advisors LLC lifted its holdings in shares of Scientific Games Co. (NASDAQ:SGMS) by 49.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,240 shares of the technology company’s stock after acquiring an additional 9,631 shares during the quarter. ProShare Advisors LLC’s holdings in Scientific Games were worth $2,264,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of SGMS. Point72 Hong Kong Ltd bought a new position in shares of Scientific Games during the 1st quarter worth approximately $34,000. IFP Advisors Inc lifted its holdings in Scientific Games by 422.5% during the 2nd quarter. IFP Advisors Inc now owns 465 shares of the technology company’s stock worth $36,000 after purchasing an additional 376 shares during the last quarter. Cypress Point Wealth Management LLC acquired a new stake in Scientific Games during the 2nd quarter worth approximately $39,000. Advisory Services Network LLC acquired a new stake in Scientific Games during the 2nd quarter worth approximately $46,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Scientific Games by 86.4% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,191 shares of the technology company’s stock worth $91,000 after purchasing an additional 552 shares during the last quarter. Institutional investors own 85.30% of the company’s stock.
SGMS has been the subject of several research reports. Zacks Investment Research cut Scientific Games from a “buy” rating to a “hold” rating and set a $71.00 price target for the company. in a report on Wednesday, August 11th. Stifel Nicolaus lifted their price target on Scientific Games from $66.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, June 30th. Jefferies Financial Group lifted their price target on Scientific Games from $62.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, June 30th. Credit Suisse Group lifted their price objective on Scientific Games from $36.00 to $39.00 and gave the company an “underperform” rating in a report on Tuesday, August 10th. Finally, Craig Hallum lifted their price objective on Scientific Games from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, September 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.90.
Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings results on Monday, August 9th. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $1.01. The business had revenue of $880.00 million during the quarter, compared to the consensus estimate of $771.73 million. The company’s revenue for the quarter was up 63.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.15) EPS. On average, equities analysts expect that Scientific Games Co. will post 1.2 earnings per share for the current fiscal year.
Scientific Games Profile
Scientific Games Corp. engages in the development of technology-based products and services and associated content. It operates through the following business segments: Gaming, Lottery, and SciPlay, and Digital. The Gaming segment designs, develops, manufactures, markets, and distributes a comprehensive portfolio of gaming products and services.
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