Scientific Games Corp Shares Gap Up After Insider Buying Activity (SGMS)
Shares of Scientific Games Corp (NASDAQ:SGMS) gapped up before the market opened on Wednesday after an insider bought additional shares in the company, AmericanBankingNews.com reports. The stock had previously closed at $7.72, but opened at $7.79. Scientific Games Corp shares last traded at $8.13, with a volume of 1,321,206 shares trading hands.
Specifically, CEO Michael Gavin Isaacs purchased 42,675 shares of Scientific Games Corp stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $7.11 per share, for a total transaction of $303,419.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on SGMS. Analysts at Stifel Nicolaus downgraded shares of Scientific Games Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 6th. Separately, analysts at Citigroup Inc. downgraded shares of Scientific Games Corp from a “buy” rating to a “hold” rating in a research note on Monday, August 4th. They now have a $90.00 price target on the stock, up previously from $83.30. Finally, analysts at Buckingham Research initiated coverage on shares of Scientific Games Corp in a research note on Friday, June 27th. They set a “neutral” rating and a $11.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $30.25.
The stock has a 50-day moving average of $9.50 and a 200-day moving average of $11.51. The company’s market cap is $699.2 million.
Scientific Games Corp (NASDAQ:SGMS) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.86) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.27) by $0.59. The company had revenue of $416.90 million for the quarter, compared to the consensus estimate of $413.72 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 77.4% on a year-over-year basis. Analysts expect that Scientific Games Corp will post $-1.14 EPS for the current fiscal year.
Scientific Games Corporation (NASDAQ:SGMS) is a global supplier of solutions to lottery and gaming organizations worldwide.
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