Scientific Games Corp (SGMS) Given New $40.00 Price Target at Stifel Nicolaus
Scientific Games Corp (NASDAQ:SGMS) had its price target increased by research analysts at Stifel Nicolaus from $35.00 to $40.00 in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective suggests a potential downside of 4.88% from the company’s previous close.
Several other equities research analysts have also recently weighed in on SGMS. ValuEngine upgraded Scientific Games Corp from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Scientific Games Corp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Finally, Zacks Investment Research upgraded Scientific Games Corp from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Thursday, July 20th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $31.25.
Shares of Scientific Games Corp (NASDAQ SGMS) traded up 9.51% during trading on Monday, hitting $42.05. 2,228,651 shares of the company traded hands. The company has a 50-day moving average of $35.86 and a 200-day moving average of $27.22. Scientific Games Corp has a 52-week low of $10.33 and a 52-week high of $42.10. The stock’s market capitalization is $3.76 billion.
Scientific Games Corp (NASDAQ:SGMS) last posted its earnings results on Monday, July 24th. The technology company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.08. The business had revenue of $766.30 million for the quarter, compared to analysts’ expectations of $732.93 million. Scientific Games Corp’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.59) EPS. Equities analysts expect that Scientific Games Corp will post ($2.23) EPS for the current year.
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In other Scientific Games Corp news, Director Gabrielle K. Mcdonald sold 2,133 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $38.50, for a total value of $82,120.50. Following the completion of the sale, the director now owns 7,173 shares in the company, valued at $276,160.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James C. Kennedy sold 122,681 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $37.14, for a total value of $4,556,372.34. Following the completion of the sale, the executive vice president now 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 quarter, insiders sold 192,850 shares of company stock valued at $7,281,691. 41.53% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lord Abbett & CO. LLC purchased a new stake in Scientific Games Corp in the second quarter valued at approximately $17,104,000. Piedmont Investment Advisors LLC purchased a new stake in Scientific Games Corp in the second quarter valued at approximately $291,000. Ameritas Investment Partners Inc. lifted its stake 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 buying an additional 556 shares during the last quarter. Private Advisory Group LLC lifted its stake in Scientific Games Corp by 17.8% in the second quarter. Private Advisory Group LLC now owns 16,041 shares of the technology company’s stock valued at $419,000 after buying an additional 2,421 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Scientific Games Corp by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 42,638 shares of the technology company’s stock valued at $1,113,000 after buying an additional 1,227 shares during the last quarter. Institutional investors own 62.90% of the company’s stock.
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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