Scientific Games Corp (NASDAQ:SGMS)‘s stock had its “buy” rating reissued by Bank of America Corporation in a research report issued to clients and investors on Wednesday. They currently have a $50.00 target price on the technology company’s stock, up from their prior target price of $38.00. Bank of America Corporation’s price target would suggest a potential upside of 15.74% from the company’s current price.
Several other brokerages have also issued reports on SGMS. Stifel Nicolaus boosted their price objective on Scientific Games Corp from $24.00 to $35.00 and gave the company a “hold” rating in a research report on Tuesday, July 25th. BidaskClub lowered Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded Scientific Games Corp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, July 20th. Finally, ValuEngine upgraded Scientific Games Corp from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Scientific Games Corp presently has a consensus rating of “Hold” and an average price target of $38.75.
Scientific Games Corp (NASDAQ:SGMS) traded up 0.23% during trading on Wednesday, hitting $43.20. 872,947 shares of the stock traded hands. The stock’s market cap is $3.86 billion. Scientific Games Corp has a 52 week low of $10.54 and a 52 week high of $43.90. The firm’s 50-day moving average is $36.03 and its 200 day moving average is $27.37.
Scientific Games Corp (NASDAQ:SGMS) last issued its quarterly earnings data on Monday, July 24th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.08. The business had revenue of $766.30 million during the quarter, compared to analyst estimates of $732.93 million. During the same quarter in the prior year, the firm posted ($0.59) earnings per share. Scientific Games Corp’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts forecast that Scientific Games Corp will post ($2.23) earnings per share for the current fiscal year.
In other Scientific Games Corp news, EVP James C. Kennedy sold 122,681 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $37.14, for a total transaction of $4,556,372.34. Following the completion of the transaction, the executive vice president now owns 186,363 shares of the company’s stock, valued at approximately $6,921,521.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gabrielle K. Mcdonald sold 2,133 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $38.50, for a total value of $82,120.50. Following the transaction, the director now directly owns 7,173 shares of the company’s stock, valued at approximately $276,160.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 192,850 shares of company stock valued at $7,281,691. Insiders own 41.53% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Sylebra HK Co Ltd boosted its position in Scientific Games Corp by 0.4% during the 2nd quarter. Sylebra HK Co Ltd now owns 8,619,044 shares of the technology company’s stock worth $224,957,000 after acquiring an additional 36,275 shares during the last quarter. BlackRock Inc. boosted its position in Scientific Games Corp by 1.4% during the 2nd quarter. BlackRock Inc. now owns 6,204,986 shares of the technology company’s stock worth $161,950,000 after acquiring an additional 84,128 shares during the last quarter. Vanguard Group Inc. boosted its position in Scientific Games Corp by 27.6% during the 1st quarter. Vanguard Group Inc. now owns 5,916,233 shares of the technology company’s stock worth $139,918,000 after acquiring an additional 1,278,837 shares during the last quarter. Renaissance Technologies LLC boosted its position in Scientific Games Corp by 152.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,538,848 shares of the technology company’s stock worth $40,164,000 after acquiring an additional 928,800 shares during the last quarter. Finally, Whale Rock Capital Management LLC acquired a new position in Scientific Games Corp during the 2nd quarter worth approximately $36,929,000. 62.90% of the stock is owned by hedge funds and other institutional investors.
Scientific Games Corp Company Profile
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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