Scientific Games (NASDAQ:SGMS) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Scientific Games (NASDAQ:SGMS) from a sell rating to a hold rating in a research note published on Thursday, ValuEngine reports.

Other analysts also recently issued research reports about the company. Deutsche Bank dropped their price target on Scientific Games from $26.00 to $22.00 and set an in-line rating on the stock in a research note on Wednesday, May 8th. BidaskClub raised Scientific Games from a strong sell rating to a sell rating in a research note on Friday, July 26th. Finally, Telsey Advisory Group reissued an outperform rating and issued a $31.00 price target (down previously from $36.00) on shares of Scientific Games in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Scientific Games currently has a consensus rating of Hold and an average target price of $26.17.

Scientific Games stock traded up $0.86 during mid-day trading on Thursday, hitting $21.41. 79,068 shares of the company’s stock were exchanged, compared to its average volume of 1,135,399. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -38.67, a P/E/G ratio of 72.53 and a beta of 2.21. Scientific Games has a fifty-two week low of $14.79 and a fifty-two week high of $39.60. The company has a 50 day moving average price of $19.59.

Scientific Games (NASDAQ:SGMS) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.19. Scientific Games had a negative return on equity of 0.60% and a negative net margin of 5.15%. The firm had revenue of $837.00 million for the quarter, compared to the consensus estimate of $832.28 million. During the same quarter last year, the business posted ($2.24) EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities research analysts expect that Scientific Games will post 0.03 EPS for the current year.

In related news, Director Ronald O. Perelman bought 110,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $19.73 per share, with a total value of $2,170,300.00. Following the completion of the transaction, the director now owns 7,519 shares in the company, valued at $148,349.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald O. Perelman bought 120,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was bought at an average cost of $20.29 per share, for a total transaction of $2,434,800.00. Following the transaction, the director now owns 7,519 shares of the company’s stock, valued at approximately $152,560.51. The disclosure for this purchase can be found here. Company insiders own 40.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SGMS. Personal Wealth Partners acquired a new stake in shares of Scientific Games in the second quarter valued at about $69,000. Dupont Capital Management Corp increased its position in shares of Scientific Games by 32.7% in the second quarter. Dupont Capital Management Corp now owns 6,900 shares of the technology company’s stock valued at $137,000 after acquiring an additional 1,700 shares during the last quarter. Sciencast Management LP bought a new position in Scientific Games during the first quarter worth about $222,000. Municipal Employees Retirement System of Michigan bought a new position in Scientific Games during the fourth quarter worth about $236,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Scientific Games by 707.0% during the first quarter. BNP Paribas Arbitrage SA now owns 11,718 shares of the technology company’s stock worth $239,000 after purchasing an additional 10,266 shares during the period. 64.29% of the stock is currently owned by institutional investors and hedge funds.

About Scientific Games

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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