Traders Purchase Large Volume of Call Options on Scientific Games (SGMS)

Scientific Games Corp (NASDAQ:SGMS) saw unusually large options trading activity on Thursday. Stock traders bought 20,321 call options on the company. This represents an increase of approximately 4,251% compared to the average volume of 467 call options.

SGMS has been the topic of a number of recent analyst reports. Bank of America restated a “buy” rating and set a $50.00 target price (up previously from $38.00) on shares of Scientific Games in a research note on Wednesday, September 20th. Craig Hallum restated a “buy” rating and set a $56.00 target price (up previously from $45.00) on shares of Scientific Games in a research note on Thursday, October 5th. Finally, Stifel Nicolaus raised their target price on shares of Scientific Games from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, September 18th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Scientific Games currently has an average rating of “Buy” and an average target price of $42.20.

Shares of Scientific Games (NASDAQ SGMS) opened at $53.15 on Friday. The company has a debt-to-equity ratio of -4.07, a current ratio of 1.83 and a quick ratio of 1.45. Scientific Games has a fifty-two week low of $13.65 and a fifty-two week high of $53.60.

Scientific Games (NASDAQ:SGMS) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.22). The business had revenue of $768.90 million for the quarter, compared to analyst estimates of $748.56 million. During the same period in the prior year, the business posted ($1.13) earnings per share. Scientific Games’s quarterly revenue was up 6.8% on a year-over-year basis. equities analysts expect that Scientific Games will post -2.47 earnings per share for the current fiscal year.

In other Scientific Games news, Director Michael J. Regan sold 17,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $46.88, for a total transaction of $796,960.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James C. Kennedy sold 30,384 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $48.35, for a total transaction of $1,469,066.40. Following the sale, the executive vice president now owns 105,029 shares in the company, valued at approximately $5,078,152.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,384 shares of company stock worth $9,026,426. 40.61% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hanseatic Management Services Inc. grew its holdings in Scientific Games by 0.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 54,440 shares of the technology company’s stock valued at $1,421,000 after buying an additional 148 shares in the last quarter. Arizona State Retirement System grew its holdings in Scientific Games by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 26,867 shares of the technology company’s stock valued at $701,000 after buying an additional 200 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in Scientific Games by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 21,000 shares of the technology company’s stock valued at $548,000 after buying an additional 200 shares in the last quarter. Prudential Financial Inc. grew its holdings in Scientific Games by 0.3% during the 2nd quarter. Prudential Financial Inc. now owns 91,974 shares of the technology company’s stock valued at $2,401,000 after buying an additional 234 shares in the last quarter. Finally, Profund Advisors LLC grew its holdings in shares of Scientific Games by 5.8% in the second quarter. Profund Advisors LLC now owns 10,073 shares of the technology company’s stock valued at $263,000 after purchasing an additional 553 shares in the last quarter. 64.04% of the stock is owned by institutional investors and hedge funds.

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About Scientific Games

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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