Scientific Games (NASDAQ:SGMS) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Scientific Games (NASDAQ:SGMS) from a hold rating to a buy rating in a research report released on Wednesday, BidAskClub reports.

Separately, ValuEngine raised shares of Scientific Games from a hold rating to a buy rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Scientific Games currently has a consensus rating of Hold and an average price target of $24.20.

Scientific Games stock opened at $22.65 on Wednesday. The company has a market cap of $2.17 billion, a PE ratio of 178.85 and a beta of 2.23. The company has a fifty day moving average price of $21.17 and a two-hundred day moving average price of $20.28. Scientific Games has a 12 month low of $14.79 and a 12 month high of $29.95.

Scientific Games (NASDAQ:SGMS) last released its quarterly earnings data on Thursday, August 1st. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The business had revenue of $845.00 million during the quarter, compared to analyst estimates of $859.67 million. Scientific Games had a negative return on equity of 0.52% and a negative net margin of 7.25%. On average, research analysts predict that Scientific Games will post -0.88 EPS for the current year.

In related news, Director Richard M. Haddrill sold 45,681 shares of Scientific Games stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $23.94, for a total transaction of $1,093,603.14. Following the sale, the director now directly owns 225,957 shares in the company, valued at $5,409,410.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronald O. Perelman acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average price of $22.98 per share, for a total transaction of $2,298,000.00. Following the completion of the purchase, the director now owns 9,074 shares of the company’s stock, valued at $208,520.52. The disclosure for this purchase can be found here. In the last three months, insiders have bought 350,000 shares of company stock valued at $7,643,000. Corporate insiders own 40.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atwater Malick LLC bought a new stake in shares of Scientific Games during the third quarter valued at about $31,000. Royal Bank of Canada raised its position in Scientific Games by 547.9% in the second quarter. Royal Bank of Canada now owns 3,019 shares of the technology company’s stock worth $60,000 after acquiring an additional 2,553 shares in the last quarter. Personal Wealth Partners bought a new stake in Scientific Games in the second quarter worth about $69,000. Dupont Capital Management Corp raised its position in Scientific Games by 32.7% in the second quarter. Dupont Capital Management Corp now owns 6,900 shares of the technology company’s stock worth $137,000 after acquiring an additional 1,700 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Scientific Games in the third quarter worth about $195,000. Institutional investors and hedge funds own 64.51% of the company’s stock.

Scientific Games Company Profile

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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Analyst Recommendations for Scientific Games (NASDAQ:SGMS)

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