Scientific Games (SGMS) Shares Down 6.7%

Scientific Games Corp (NASDAQ:SGMS)’s share price fell 6.7% during trading on Monday . The stock traded as low as $20.21 and last traded at $20.59. 1,106,587 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 1,557,784 shares. The stock had previously closed at $22.07.

Several brokerages have recently commented on SGMS. Deutsche Bank decreased their price objective on shares of Scientific Games from $26.00 to $22.00 and set an “in-line” rating on the stock in a report on Wednesday, May 8th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $31.00 target price (down from $36.00) on shares of Scientific Games in a research note on Wednesday, May 8th. BidaskClub downgraded shares of Scientific Games from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 27th. Zacks Investment Research raised shares of Scientific Games from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and set a $21.00 target price on shares of Scientific Games in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $32.50.

The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -39.41, a P/E/G ratio of 28.08 and a beta of 2.32.

Scientific Games (NASDAQ:SGMS) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.19. Scientific Games had a negative net margin of 5.15% and a negative return on equity of 0.60%. The firm had revenue of $837.00 million for the quarter, compared to the consensus estimate of $832.28 million. During the same period in the prior year, the firm earned ($2.24) EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts expect that Scientific Games Corp will post 0.07 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in SGMS. Whale Rock Capital Management LLC increased its stake in Scientific Games by 30.9% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,415,894 shares of the technology company’s stock worth $61,076,000 after buying an additional 806,935 shares during the period. Morgan Stanley increased its position in shares of Scientific Games by 168.8% in the 3rd quarter. Morgan Stanley now owns 539,907 shares of the technology company’s stock valued at $13,715,000 after purchasing an additional 339,059 shares during the last quarter. Norges Bank purchased a new stake in shares of Scientific Games in the 4th quarter valued at approximately $6,008,000. Intrinsic Edge Capital Management LLC increased its position in shares of Scientific Games by 648.4% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 330,877 shares of the technology company’s stock valued at $5,916,000 after purchasing an additional 286,667 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Scientific Games by 3.5% in the 1st quarter. BlackRock Inc. now owns 6,360,597 shares of the technology company’s stock valued at $129,884,000 after purchasing an additional 215,967 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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