Scientific Games Corp (SGMS) Given “Buy” Rating at Craig Hallum
Scientific Games Corp (NASDAQ:SGMS)‘s stock had its “buy” rating reiterated by Craig Hallum in a report issued on Thursday. They currently have a $56.00 price target on the technology company’s stock. Craig Hallum’s target price suggests a potential upside of 19.53% from the company’s previous close.
Several other research firms also recently weighed in on SGMS. Bank of America Corporation reissued a “buy” rating and set a $50.00 price target (up previously from $38.00) on shares of Scientific Games Corp in a research report on Wednesday, September 20th. Zacks Investment Research downgraded Scientific Games Corp from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Stifel Nicolaus raised their price target on Scientific Games Corp from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, September 18th. Finally, BidaskClub downgraded Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $42.20.
Shares of Scientific Games Corp (NASDAQ SGMS) traded up 2.45% during mid-day trading on Thursday, hitting $48.00. The stock had a trading volume of 334,939 shares. The stock has a 50 day moving average price of $38.80 and a 200-day moving average price of $29.18. The company’s market cap is $4.29 billion. Scientific Games Corp has a 52-week low of $10.90 and a 52-week high of $48.00.
Scientific Games Corp (NASDAQ:SGMS) last released its quarterly earnings data on Monday, July 24th. The technology company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.08. The firm had revenue of $766.30 million during the quarter, compared to analysts’ expectations of $732.93 million. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.59) earnings per share. On average, equities analysts expect that Scientific Games Corp will post ($2.23) earnings per share for the current fiscal year.
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In other news, Director Gabrielle K. Mcdonald sold 2,133 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $38.50, for a total transaction of $82,120.50. Following the sale, the director now owns 7,173 shares in the company, valued at $276,160.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Gavin Isaacs sold 68,036 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $38.85, for a total value of $2,643,198.60. Following the sale, the director now owns 110,815 shares in the company, valued at approximately $4,305,162.75. The disclosure for this sale can be found here. Insiders have sold 192,850 shares of company stock valued at $7,281,691 in the last three months. 42.03% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Scientific Games Corp during the second quarter worth $17,104,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Scientific Games Corp during the second quarter worth $291,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Scientific Games Corp by 13.5% during the second quarter. Ameritas Investment Partners Inc. now owns 4,673 shares of the technology company’s stock worth $122,000 after purchasing an additional 556 shares during the last quarter. Private Advisory Group LLC boosted its holdings in shares of Scientific Games Corp by 17.8% during the second quarter. Private Advisory Group LLC now owns 16,041 shares of the technology company’s stock worth $419,000 after purchasing an additional 2,421 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Scientific Games Corp by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 42,638 shares of the technology company’s stock worth $1,113,000 after purchasing an additional 1,227 shares during the last quarter. Institutional investors and hedge funds own 62.77% 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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