Scientific Games Corp (NASDAQ:SGMS)’s stock price was down 9.8% during trading on Wednesday . The company traded as low as $30.34 and last traded at $30.45. Approximately 2,199,533 shares changed hands during trading, an increase of 21% from the average daily volume of 1,822,614 shares. The stock had previously closed at $33.77.
A number of equities analysts have recently commented on SGMS shares. Deutsche Bank lifted their price target on shares of Scientific Games from $8.00 to $16.00 and gave the stock a “hold” rating in a report on Monday, July 27th. ValuEngine lowered shares of Scientific Games from a “buy” rating to a “hold” rating in a report on Tuesday, September 1st. Macquarie boosted their target price on shares of Scientific Games from $20.00 to $29.00 in a report on Thursday. Zacks Investment Research upgraded shares of Scientific Games from a “strong sell” rating to a “hold” rating and set a $13.00 target price on the stock in a report on Tuesday, June 16th. Finally, SunTrust Banks boosted their target price on shares of Scientific Games from $15.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $30.13.
The firm’s 50 day simple moving average is $22.40 and its two-hundred day simple moving average is $15.49. The stock has a market capitalization of $3.10 billion, a P/E ratio of -7.90 and a beta of 2.44.
Scientific Games (NASDAQ:SGMS) last posted its earnings results on Thursday, July 23rd. The technology company reported ($1.79) EPS for the quarter, topping the consensus estimate of ($1.91) by $0.12. Scientific Games had a negative net margin of 13.11% and a negative return on equity of 0.53%. The company had revenue of $539.00 million during the quarter, compared to the consensus estimate of $462.99 million. Analysts expect that Scientific Games Corp will post -3.41 earnings per share for the current year.
In related news, Chairman Ronald O. Perelman sold 9,375,806 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $28.00, for a total transaction of $262,522,568.00. Following the completion of the sale, the chairman now directly owns 17,104 shares in the company, valued at $478,912. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 40.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its holdings in Scientific Games by 34.8% in the first quarter. First Trust Advisors LP now owns 108,117 shares of the technology company’s stock valued at $1,049,000 after buying an additional 27,888 shares during the period. Swiss National Bank grew its holdings in shares of Scientific Games by 1.5% during the first quarter. Swiss National Bank now owns 99,500 shares of the technology company’s stock valued at $965,000 after buying an additional 1,500 shares in the last quarter. Hancock Whitney Corp grew its holdings in shares of Scientific Games by 34.3% during the first quarter. Hancock Whitney Corp now owns 16,845 shares of the technology company’s stock valued at $163,000 after buying an additional 4,304 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Scientific Games by 21.6% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 18,781 shares of the technology company’s stock valued at $182,000 after buying an additional 3,333 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in shares of Scientific Games by 5.4% during the first quarter. Mutual of America Capital Management LLC now owns 49,703 shares of the technology company’s stock valued at $482,000 after buying an additional 2,528 shares in the last quarter. 59.49% of the stock is currently owned by institutional investors.
Scientific Games Company Profile (NASDAQ:SGMS)
Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and digital gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; slot, casino, and table-management systems; table products, including shufflers; and perpetual licenses to proprietary table games.
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