Research analysts at Telsey Advisory Group began coverage on shares of Scientific Games (NASDAQ:SGMS) in a research note issued to investors on Wednesday. The firm set an “outperform” rating and a $52.00 price target on the technology company’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 17.91% from the stock’s previous close.
Several other research analysts have also issued reports on SGMS. Stifel Nicolaus restated a “hold” rating and issued a $55.00 price target on shares of Scientific Games in a research report on Friday, February 2nd. Zacks Investment Research lowered Scientific Games from a “hold” rating to a “sell” rating in a research report on Friday, February 9th. BidaskClub lowered Scientific Games from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Jefferies Group started coverage on Scientific Games in a research report on Tuesday, February 20th. They issued a “buy” rating and a $57.00 price target on the stock. Finally, Bank of America reduced their price target on Scientific Games from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, March 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Scientific Games has an average rating of “Hold” and a consensus price target of $52.33.
Scientific Games (NASDAQ:SGMS) opened at $44.10 on Wednesday. The company has a market capitalization of $4,070.93, a price-to-earnings ratio of -16.21 and a beta of 2.47. The company has a debt-to-equity ratio of -4.31, a current ratio of 2.54 and a quick ratio of 2.21. Scientific Games has a 12-month low of $20.50 and a 12-month high of $56.45.
In related news, Director Peter A. Cohen sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $41.54, for a total transaction of $207,700.00. Following the sale, the director now owns 268,502 shares of the company’s stock, valued at approximately $11,153,573.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter A. Cohen sold 20,049 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $40.80, for a total value of $817,999.20. Following the sale, the director now directly owns 268,502 shares in the company, valued at approximately $10,954,881.60. The disclosure for this sale can be found here. Insiders sold a total of 33,049 shares of company stock worth $1,435,939 over the last 90 days. 40.61% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc acquired a new stake in Scientific Games during the 4th quarter worth $138,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Scientific Games by 152.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,045 shares of the technology company’s stock worth $156,000 after buying an additional 1,840 shares during the period. Strs Ohio raised its stake in Scientific Games by 85.0% during the 4th quarter. Strs Ohio now owns 3,700 shares of the technology company’s stock worth $189,000 after buying an additional 1,700 shares during the period. Teacher Retirement System of Texas acquired a new stake in Scientific Games during the 3rd quarter worth $201,000. Finally, Alps Advisors Inc. acquired a new stake in Scientific Games during the 4th quarter worth $208,000. 65.94% of the stock is currently 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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