Zacks Investment Research Lowers SciPlay (NASDAQ:SCPL) to Sell

Zacks Investment Research cut shares of SciPlay (NASDAQ:SCPL) from a hold rating to a sell rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “SciPlay Corporation is a developer and publisher of digital games on mobile and Web platforms. The Company offers games which includes social casino games Jackpot Party Casino, Gold Fish Casino, Hot Shot Casino and Quick Hit Slots and casual games MONOPOLY Slots, Bingo Showdown and 88 Fortunes Slots. SciPlay Corporation is based in Las Vegas, Nevada. “

Several other research analysts also recently issued reports on SCPL. Stifel Nicolaus initiated coverage on shares of SciPlay in a report on Tuesday, May 28th. They set a buy rating and a $18.50 price target for the company. Goldman Sachs Group initiated coverage on shares of SciPlay in a report on Tuesday, May 28th. They set a buy rating and a $19.00 price target for the company. Bank of America initiated coverage on shares of SciPlay in a report on Tuesday, May 28th. They set a buy rating for the company. Morgan Stanley initiated coverage on shares of SciPlay in a report on Tuesday, May 28th. They set an equal weight rating and a $17.00 price target for the company. Finally, Stephens initiated coverage on shares of SciPlay in a report on Wednesday, May 22nd. They set an overweight rating and a $20.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $18.81.

NASDAQ SCPL traded down $0.28 on Friday, hitting $10.31. 5,325 shares of the company’s stock were exchanged, compared to its average volume of 353,233. The business has a 50-day moving average price of $12.42. SciPlay has a 52 week low of $9.64 and a 52 week high of $18.75.

SciPlay (NASDAQ:SCPL) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.36. The company had revenue of $118.10 million for the quarter, compared to analyst estimates of $118.50 million. The company’s revenue was up 18.5% compared to the same quarter last year. On average, equities research analysts expect that SciPlay will post 0.81 earnings per share for the current year.

In related news, major shareholder Park West Asset Management Llc acquired 497,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average cost of $15.93 per share, for a total transaction of $7,925,175.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M. Mendel Pinson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average price of $16.00 per share, with a total value of $80,000.00. The disclosure for this purchase can be found here. Insiders purchased 1,089,209 shares of company stock valued at $16,316,181 over the last 90 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlas Capital Advisors LLC acquired a new stake in SciPlay in the second quarter valued at $27,000. NJ State Employees Deferred Compensation Plan acquired a new stake in SciPlay in the second quarter valued at $329,000. Alpine Global Management LLC acquired a new stake in SciPlay in the second quarter valued at $2,057,000. EastBay Asset Management LLC acquired a new stake in SciPlay in the second quarter valued at $3,074,000. Finally, Roubaix Capital LLC bought a new stake in SciPlay during the second quarter valued at $3,324,000. Institutional investors and hedge funds own 0.93% of the company’s stock.

About SciPlay

SciPlay Corporation develops and publishes digital games on mobile and Web platforms. The company offers seven games, which include social casino games, such as Jackpot Party Casino, Gold Fish Casino, Hot Shot Casino, and Quick Hit Slots, as well as casual games comprising MONOPOLY Slots, Bingo Showdown, and 88 Fortunes Slots.

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