Scientific Games (NASDAQ:SGMS) Stock Price Up 5.9%

Scientific Games Corp (NASDAQ:SGMS) shares rose 5.9% during trading on Friday . The company traded as high as $19.99 and last traded at $19.82. Approximately 2,720,518 shares traded hands during trading, an increase of 85% from the average daily volume of 1,468,761 shares. The stock had previously closed at $18.71.

SGMS has been the topic of a number of research analyst reports. BidaskClub lowered Scientific Games from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 27th. Credit Suisse Group reissued an “underperform” rating and set a $21.00 price target on shares of Scientific Games in a report on Wednesday, March 20th. ValuEngine lowered Scientific Games from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Telsey Advisory Group reissued an “outperform” rating and set a $31.00 price target (down from $36.00) on shares of Scientific Games in a report on Wednesday, May 8th. Finally, Deutsche Bank lowered their target price on Scientific Games from $26.00 to $22.00 and set an “in-line” rating on the stock in a report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Scientific Games presently has an average rating of “Hold” and an average target price of $32.50.

The stock has a fifty day moving average price of $19.96. The stock has a market capitalization of $1.84 billion, a PE ratio of -36.70, a price-to-earnings-growth ratio of 62.59 and a beta of 2.43.

Scientific Games (NASDAQ:SGMS) last released its 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 firm had revenue of $837.00 million for the quarter, compared to analyst estimates of $832.28 million. Scientific Games had a negative return on equity of 0.60% and a negative net margin of 5.15%. Scientific Games’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.24) earnings per share. On average, equities analysts expect that Scientific Games Corp will post 0.03 EPS for the current fiscal year.

In related news, Director Ronald O. Perelman purchased 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The shares were purchased at an average price of $20.29 per share, with a total value of $2,434,800.00. Following the purchase, the director now owns 7,519 shares of the company’s stock, valued at approximately $152,560.51. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald O. Perelman purchased 110,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was bought at an average cost of $19.73 per share, for a total transaction of $2,170,300.00. Following the purchase, the director now directly owns 7,519 shares in the company, valued at approximately $148,349.87. The disclosure for this purchase can be found here. 40.48% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in Scientific Games by 17.8% in the 4th quarter. Van ECK Associates Corp now owns 7,252 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,094 shares in the last quarter. Quantum Capital Management purchased a new position in Scientific Games in the 4th quarter worth about $183,000. HRT Financial LLC purchased a new position in Scientific Games in the 4th quarter worth about $213,000. Sciencast Management LP purchased a new position in Scientific Games in the 1st quarter worth about $222,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Scientific Games during the 4th quarter worth about $236,000. 65.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: SEC Filing

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