Fine Capital Partners L.P. trimmed its holdings in Scientific Games Corp (NASDAQ:SGMS) by 29.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,197,228 shares of the technology company’s stock after selling 1,317,325 shares during the period. Scientific Games makes up about 15.4% of Fine Capital Partners L.P.’s holdings, making the stock its largest holding. Fine Capital Partners L.P. owned approximately 3.57% of Scientific Games worth $146,593,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sylebra HK Co Ltd increased its position in shares of Scientific Games by 0.4% during the second quarter. Sylebra HK Co Ltd now owns 8,619,044 shares of the technology company’s stock worth $224,957,000 after purchasing an additional 36,275 shares in the last quarter. BlackRock Inc. increased its position in Scientific Games by 1.4% in the 2nd quarter. BlackRock Inc. now owns 6,204,986 shares of the technology company’s stock valued at $161,950,000 after acquiring an additional 84,128 shares during the period. Renaissance Technologies LLC boosted its holdings in Scientific Games by 152.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,538,848 shares of the technology company’s stock valued at $40,164,000 after purchasing an additional 928,800 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in Scientific Games in the 2nd quarter valued at approximately $36,929,000. Finally, State Street Corp boosted its holdings in Scientific Games by 5.4% in the 2nd quarter. State Street Corp now owns 1,279,638 shares of the technology company’s stock valued at $33,399,000 after purchasing an additional 65,816 shares in the last quarter. Institutional investors and hedge funds own 63.97% of the company’s stock.
A number of brokerages have weighed in on SGMS. Craig Hallum reaffirmed a “buy” rating and issued a $56.00 price objective (up previously from $45.00) on shares of Scientific Games in a report on Thursday, October 5th. Bank of America reissued a “buy” rating and set a $50.00 price target (up previously from $38.00) on shares of Scientific Games in a research note on Wednesday, September 20th. Finally, Stifel Nicolaus boosted their price target on Scientific Games from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, September 18th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.20.
Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.22). The business had revenue of $768.90 million during the quarter, compared to the consensus estimate of $748.56 million. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.13) EPS. sell-side analysts anticipate that Scientific Games Corp will post -2.47 earnings per share for the current fiscal year.
In other news, EVP James C. Kennedy sold 100,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $48.30, for a total transaction of $4,830,000.00. Following the completion of the sale, the executive vice president now directly owns 105,029 shares in the company, valued at approximately $5,072,900.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael J. Regan sold 17,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $46.88, for a total value of $796,960.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,384 shares of company stock valued at $9,026,426. Insiders own 40.61% of the company’s stock.
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Scientific Games 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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