Scientific Games Corp. (NASDAQ:SGMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

According to Zacks, “Scientific Games has been impacted by the weakness in the gaming segment especially with regard to WAP, premium installed base and gaming systems. Nonetheless, the company holds a premium position in the gaming equipment space. In addition, the acquisitions of Bally Technologies and WMS Industries are positives as they diversify its product portfolio and expand its global footprint. Earnings estimates for the company have remained stable for a while now.”

Separately, Deutsche Bank AG reaffirmed a “hold” rating and issued a $7.00 price target on shares of Scientific Games Corp. in a research note on Sunday, June 26th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Scientific Games Corp. presently has an average rating of “Hold” and an average target price of $10.02.

Analyst Recommendations for Scientific Games Corp. (NASDAQ:SGMS)

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Scientific Games Corp. (NASDAQ:SGMS) traded down 0.39% during midday trading on Monday, reaching $12.70. The company’s stock had a trading volume of 269,041 shares. Scientific Games Corp. has a 12-month low of $4.56 and a 12-month high of $13.33. The firm has a 50 day moving average price of $10.75 and a 200-day moving average price of $9.81. The company’s market cap is $1.11 billion.

Scientific Games Corp. (NASDAQ:SGMS) last issued its quarterly earnings results on Friday, August 5th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.22. The company earned $729.20 million during the quarter, compared to analyst estimates of $708.84 million. During the same period in the prior year, the company posted ($1.19) earnings per share. On average, equities research analysts predict that Scientific Games Corp. will post ($3.25) earnings per share for the current fiscal year.

In related news, Director David L. Kennedy sold 100,000 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $10.49, for a total transaction of $1,049,000.00. Following the completion of the sale, the director now directly owns 121,765 shares of the company’s stock, valued at $1,277,314.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 42.03% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SGMS. J. Goldman & Company purchased a new stake in Scientific Games Corp. during the third quarter worth about $76,000. Profund Advisors LLC raised its stake in Scientific Games Corp. by 3.8% in the second quarter. Profund Advisors LLC now owns 11,830 shares of the company’s stock worth $109,000 after buying an additional 432 shares in the last quarter. Clinton Group Inc. purchased a new stake in Scientific Games Corp. during the second quarter worth about $113,000. BNP Paribas Arbitrage SA raised its stake in Scientific Games Corp. by 123.5% in the second quarter. BNP Paribas Arbitrage SA now owns 15,747 shares of the company’s stock worth $145,000 after buying an additional 8,700 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in Scientific Games Corp. during the second quarter worth about $197,000. Institutional investors and hedge funds own 67.90% of the company’s stock.

Scientific Games Corp. 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. The Company operates through three segments: Gaming, Lottery and Interactive. The Company’s 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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