Telsey Advisory Group Increases Scientific Games (SGMS) Price Target to $54.00

Scientific Games (NASDAQ:SGMS) had its price objective lifted by stock analysts at Telsey Advisory Group from $52.00 to $54.00 in a note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the technology company’s stock. Telsey Advisory Group’s price target points to a potential upside of 25.58% from the company’s previous close.

A number of other research firms have also weighed in on SGMS. Zacks Investment Research lowered shares of Scientific Games from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. BidaskClub lowered shares of Scientific Games from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Stifel Nicolaus reaffirmed a “hold” rating and set a $55.00 price objective on shares of Scientific Games in a research report on Friday, February 2nd. Jefferies Group started coverage on shares of Scientific Games in a research report on Tuesday, February 20th. They set a “buy” rating and a $57.00 price objective for the company. Finally, ValuEngine raised shares of Scientific Games from a “hold” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $52.67.

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Scientific Games stock opened at $43.00 on Wednesday. The company has a quick ratio of 2.21, a current ratio of 2.54 and a debt-to-equity ratio of -4.31. Scientific Games has a fifty-two week low of $20.60 and a fifty-two week high of $56.45.

Scientific Games (NASDAQ:SGMS) last released its earnings results on Wednesday, February 28th. The technology company reported ($0.28) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.28). The firm had revenue of $823.00 million for the quarter, compared to analyst estimates of $814.40 million. equities research analysts expect that Scientific Games will post 0.02 EPS for the current fiscal year.

In related news, Director Peter A. Cohen sold 9,500 shares of the stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $41.23, for a total value of $391,685.00. Following the completion of the transaction, the director now owns 249,486 shares of the company’s stock, valued at $10,286,307.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Cohen sold 5,000 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $41.54, for a total transaction of $207,700.00. Following the completion of the transaction, the director now directly owns 268,502 shares of the company’s stock, valued at approximately $11,153,573.08. The disclosure for this sale can be found here. Insiders have sold 141,798 shares of company stock valued at $6,323,025 in the last ninety days. 40.61% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Scientific Games by 1.9% in the fourth quarter. BlackRock Inc. now owns 6,609,383 shares of the technology company’s stock worth $339,061,000 after purchasing an additional 123,272 shares in the last quarter. Renaissance Technologies LLC raised its position in Scientific Games by 16.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,967,748 shares of the technology company’s stock worth $152,245,000 after purchasing an additional 424,762 shares in the last quarter. Whale Rock Capital Management LLC raised its position in Scientific Games by 48.0% in the third quarter. Whale Rock Capital Management LLC now owns 2,093,468 shares of the technology company’s stock worth $95,986,000 after purchasing an additional 678,561 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Scientific Games by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 841,496 shares of the technology company’s stock worth $38,580,000 after purchasing an additional 20,166 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its position in Scientific Games by 326.6% in the fourth quarter. Hennessy Advisors Inc. now owns 822,100 shares of the technology company’s stock worth $42,174,000 after purchasing an additional 629,400 shares in the last quarter. 65.90% of the stock is owned by hedge funds and other institutional investors.

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Scientific Games Company Profile

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.

Analyst Recommendations for Scientific Games (NASDAQ:SGMS)

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