State Treasurer State of Michigan purchased a new position in Scientific Games Co. (NASDAQ:SGMS) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 19,300 shares of the technology company’s stock, valued at approximately $803,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in SGMS. Schwab Charles Investment Management Inc. lifted its holdings in shares of Scientific Games by 4.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 263,960 shares of the technology company’s stock worth $13,542,000 after purchasing an additional 11,141 shares during the last quarter. Strs Ohio raised its stake in Scientific Games by 85.0% during the 4th quarter. Strs Ohio now owns 3,700 shares of the technology company’s stock valued at $189,000 after acquiring an additional 1,700 shares in the last quarter. Hennessy Advisors Inc. raised its stake in Scientific Games by 326.6% during the 4th quarter. Hennessy Advisors Inc. now owns 822,100 shares of the technology company’s stock valued at $42,174,000 after acquiring an additional 629,400 shares in the last quarter. IFP Advisors Inc bought a new stake in Scientific Games during the 4th quarter valued at $138,000. Finally, Private Advisory Group LLC raised its stake in Scientific Games by 23.2% during the 4th quarter. Private Advisory Group LLC now owns 14,445 shares of the technology company’s stock valued at $741,000 after acquiring an additional 2,722 shares in the last quarter. 65.98% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Peter A. Cohen sold 20,049 shares of Scientific Games stock in a transaction on Monday, March 5th. The stock was sold at an average price of $40.80, for a total transaction of $817,999.20. Following the transaction, the director now directly owns 268,502 shares in the company, valued at approximately $10,954,881.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Derik Mooberry sold 84,174 shares of Scientific Games stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $59.82, for a total value of $5,035,288.68. Following the transaction, the executive vice president now owns 69,899 shares in the company, valued at $4,181,358.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 406,586 shares of company stock worth $20,613,433. 40.61% of the stock is owned by insiders.
Several brokerages have weighed in on SGMS. Telsey Advisory Group lifted their target price on Scientific Games from $54.00 to $59.00 and gave the company an “outperform” rating in a research note on Monday, May 7th. Zacks Investment Research downgraded Scientific Games from a “buy” rating to a “hold” rating in a research note on Friday, May 4th. ValuEngine raised Scientific Games from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. BidaskClub downgraded Scientific Games from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Finally, Bank of America cut their target price on Scientific Games from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, March 2nd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $56.67.
Shares of Scientific Games opened at $60.25 on Friday, MarketBeat Ratings reports. Scientific Games Co. has a 1-year low of $22.55 and a 1-year high of $61.50. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of -27.02 and a beta of 2.53. The company has a debt-to-equity ratio of -4.00, a quick ratio of 1.43 and a current ratio of 1.73.
Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings results on Thursday, May 3rd. The technology company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.91). The firm had revenue of $812.00 million during the quarter, compared to the consensus estimate of $792.62 million. During the same quarter in the previous year, the business posted ($1.14) EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. research analysts forecast that Scientific Games Co. will post -0.82 EPS for the current fiscal year.
Scientific Games Profile
Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and interactive gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals (VLTs), 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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