Scientific Games (SGMS) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Scientific Games (NASDAQ:SGMS) from a strong sell rating to a sell rating in a research report sent to investors on Friday.

A number of other brokerages have also recently issued reports on SGMS. SunTrust Banks initiated coverage on shares of Scientific Games in a report on Monday, October 1st. They issued a buy rating and a $36.00 target price for the company. Jefferies Financial Group lowered their price target on shares of Scientific Games from $61.00 to $46.00 and set a buy rating on the stock in a research report on Tuesday, August 7th. ValuEngine lowered shares of Scientific Games from a hold rating to a sell rating in a research report on Tuesday, September 4th. Stifel Nicolaus lowered their price target on shares of Scientific Games from $57.00 to $46.00 and set a hold rating on the stock in a research report on Friday, August 3rd. Finally, TheStreet lowered shares of Scientific Games from a c- rating to a d+ rating in a research report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Scientific Games presently has a consensus rating of Hold and an average price target of $48.43.

Scientific Games stock traded down $0.15 during mid-day trading on Friday, reaching $22.73. The company had a trading volume of 1,082,812 shares, compared to its average volume of 2,091,618. Scientific Games has a 1 year low of $18.21 and a 1 year high of $62.80.

Scientific Games (NASDAQ:SGMS) last issued its earnings results on Thursday, August 2nd. The technology company reported ($0.06) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.06). The company had revenue of $844.70 million during the quarter, compared to analysts’ expectations of $853.64 million. During the same period last year, the business posted ($0.44) earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that Scientific Games will post -0.65 earnings per share for the current year.

In other Scientific Games news, Director Ronald O. Perelman purchased 175,000 shares of the stock in a transaction dated Monday, August 13th. The shares were acquired at an average cost of $31.73 per share, for a total transaction of $5,552,750.00. Following the completion of the transaction, the director now directly owns 88,032 shares of the company’s stock, valued at $2,793,255.36. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Barry L. Cottle purchased 10,000 shares of the stock in a transaction dated Thursday, August 9th. The stock was acquired at an average price of $33.24 per share, for a total transaction of $332,400.00. Following the completion of the transaction, the insider now directly owns 76,287 shares of the company’s stock, valued at $2,535,779.88. The disclosure for this purchase can be found here. Insiders bought 195,000 shares of company stock worth $6,160,700 over the last quarter. Company insiders own 40.48% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SGMS. Russell Investments Group Ltd. boosted its position in Scientific Games by 4.4% during the first quarter. Russell Investments Group Ltd. now owns 30,647 shares of the technology company’s stock worth $1,275,000 after acquiring an additional 1,296 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Scientific Games by 197.8% during the first quarter. The Manufacturers Life Insurance Company now owns 123,664 shares of the technology company’s stock worth $5,144,000 after acquiring an additional 82,136 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Scientific Games by 110.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,367 shares of the technology company’s stock worth $306,000 after acquiring an additional 3,867 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Scientific Games during the first quarter worth approximately $232,000. Finally, Cerebellum GP LLC acquired a new stake in Scientific Games during the second quarter worth approximately $121,000. Hedge funds and other institutional investors own 65.97% of the company’s stock.

About Scientific Games

Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and interactive gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals (VLTs), 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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