Scientific Games Corp (NASDAQ:SGMS) was up 7.6% during mid-day trading on Wednesday . The stock traded as high as $47.92 and last traded at $47.45. Approximately 1,592,235 shares were traded during trading, an increase of 50% from the average daily volume of 1,059,011 shares. The stock had previously closed at $44.10.
SGMS has been the topic of several analyst reports. BidaskClub lowered Scientific Games from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Bank of America reduced their price target on Scientific Games from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, March 2nd. Jefferies Group initiated coverage on Scientific Games in a report on Tuesday, February 20th. They set a “buy” rating and a $57.00 price target on the stock. Zacks Investment Research lowered Scientific Games from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, Telsey Advisory Group initiated coverage on Scientific Games in a report on Wednesday. They set an “outperform” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $52.33.
The company has a debt-to-equity ratio of -4.31, a current ratio of 2.54 and a quick ratio of 2.21. The stock has a market cap of $4,250.00, a price-to-earnings ratio of -16.77 and a beta of 2.47.
Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings results on Wednesday, February 28th. The technology company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). The company had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $814.40 million. equities research analysts forecast that Scientific Games Corp will post 0.02 earnings per share for the current year.
In related news, Director Richard M. Haddrill sold 8,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $51.28, for a total value of $410,240.00. Following the sale, the director now directly owns 136,542 shares in the company, valued at approximately $7,001,873.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter A. Cohen sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $41.54, for a total transaction of $207,700.00. Following the completion of the sale, the director now owns 268,502 shares in the company, valued at $11,153,573.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,049 shares of company stock worth $1,435,939. Insiders own 40.61% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC purchased a new stake in Scientific Games in the 4th quarter valued at about $1,272,000. Macquarie Group Ltd. grew its position in Scientific Games by 18.6% in the 4th quarter. Macquarie Group Ltd. now owns 19,100 shares of the technology company’s stock valued at $980,000 after acquiring an additional 3,000 shares in the last quarter. Millennium Management LLC grew its position in Scientific Games by 34.3% in the 4th quarter. Millennium Management LLC now owns 73,643 shares of the technology company’s stock valued at $3,778,000 after acquiring an additional 18,823 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its position in Scientific Games by 114.4% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 96,500 shares of the technology company’s stock valued at $4,949,000 after acquiring an additional 51,500 shares in the last quarter. Finally, Hanseatic Management Services Inc. grew its position in Scientific Games by 15.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 13,039 shares of the technology company’s stock valued at $669,000 after acquiring an additional 1,727 shares in the last quarter. Hedge funds and other institutional investors own 65.94% of the company’s stock.
Scientific Games Company Profile
Scientific Games Corporation is a developer of technology-based products and services and associated content for the gaming, lottery and interactive gaming industries. Its segments include Gaming, Lottery and Interactive. Its portfolio includes gaming machines and game content, casino management systems, table game products and services, instant and draw-based lottery games, server-based gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions.
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