Scientific Games Corp (SGMS) Receives Average Rating of “Hold” from Analysts
Scientific Games Corp (NASDAQ:SGMS) has received an average rating of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $30.00.
Several equities research analysts have recently issued reports on SGMS shares. BidaskClub downgraded shares of Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised shares of Scientific Games Corp from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Thursday, July 20th. ValuEngine raised shares of Scientific Games Corp from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Stifel Nicolaus raised their target price on shares of Scientific Games Corp from $24.00 to $35.00 and gave the company a “hold” rating in a research report on Tuesday, July 25th.
Scientific Games Corp (NASDAQ:SGMS) opened at 38.40 on Friday. Scientific Games Corp has a 12-month low of $10.36 and a 12-month high of $39.25. The stock’s 50 day moving average is $35.76 and its 200 day moving average is $26.98. The stock’s market capitalization is $3.43 billion.
Scientific Games Corp (NASDAQ:SGMS) last issued its quarterly earnings data on Monday, July 24th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.08. The company had revenue of $766.30 million for the quarter, compared to the consensus estimate of $732.93 million. During the same period in the prior year, the company earned ($0.59) EPS. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that Scientific Games Corp will post ($2.23) EPS for the current year.
In related news, Director Michael Gavin Isaacs sold 68,036 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $38.85, for a total value of $2,643,198.60. Following the completion of the transaction, the director now owns 110,815 shares of the company’s stock, valued at $4,305,162.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP James C. Kennedy sold 122,681 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $37.14, for a total transaction of $4,556,372.34. Following the completion of the transaction, the executive vice president now directly owns 186,363 shares of the company’s stock, valued at approximately $6,921,521.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,850 shares of company stock valued at $7,281,691. 42.03% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. grew its position in Scientific Games Corp by 13.5% in the second quarter. Ameritas Investment Partners Inc. now owns 4,673 shares of the technology company’s stock valued at $122,000 after purchasing an additional 556 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Scientific Games Corp in the first quarter valued at $120,000. SG Americas Securities LLC bought a new position in Scientific Games Corp in the first quarter valued at $130,000. Bayesian Capital Management LP bought a new position in Scientific Games Corp in the second quarter valued at $209,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Scientific Games Corp in the second quarter valued at $232,000. 62.90% of the stock is owned by institutional investors and hedge funds.
About Scientific Games Corp
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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