Scientific Games (NASDAQ:SGMS) Sets New 12-Month High Following Strong Earnings

Scientific Games Corp (NASDAQ:SGMS)’s stock price hit a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $30.80 and last traded at $30.80, with a volume of 252310 shares trading hands. The stock had previously closed at $26.98.

The technology company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.13. The business had revenue of $855.00 million during the quarter, compared to analyst estimates of $851.61 million. Scientific Games had a negative net margin of 7.25% and a negative return on equity of 0.52%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share.

A number of research analysts have recently commented on SGMS shares. BidaskClub raised shares of Scientific Games from a “hold” rating to a “buy” rating in a research report on Saturday, November 2nd. ValuEngine lowered shares of Scientific Games from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.20.

In other Scientific Games news, Director Ronald O. Perelman purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average price of $22.41 per share, with a total value of $2,241,000.00. Following the completion of the transaction, the director now directly owns 9,074 shares of the company’s stock, valued at approximately $203,348.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronald O. Perelman purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $20.42 per share, with a total value of $1,021,000.00. Following the transaction, the director now directly owns 9,074 shares of the company’s stock, valued at $185,291.08. The disclosure for this purchase can be found here. Insiders have bought 350,000 shares of company stock valued at $7,643,000 in the last ninety days. 40.60% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of SGMS. Selz Capital LLC bought a new stake in shares of Scientific Games in the 2nd quarter valued at $1,722,000. Arizona State Retirement System lifted its holdings in shares of Scientific Games by 1.8% during the second quarter. Arizona State Retirement System now owns 40,465 shares of the technology company’s stock worth $802,000 after purchasing an additional 721 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Scientific Games by 277.6% during the second quarter. SG Americas Securities LLC now owns 63,910 shares of the technology company’s stock worth $1,267,000 after purchasing an additional 46,983 shares during the period. Personal Wealth Partners acquired a new stake in shares of Scientific Games during the second quarter worth about $69,000. Finally, First Trust Advisors LP acquired a new stake in shares of Scientific Games during the second quarter worth about $942,000. 64.12% of the stock is owned by hedge funds and other institutional investors.

The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -57.04 and a beta of 2.24. The stock has a fifty day moving average of $22.62 and a 200 day moving average of $20.57.

About Scientific Games (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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