BidaskClub Lowers Scientific Games (SGMS) to Sell

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BidaskClub downgraded shares of Scientific Games (NASDAQ:SGMS) from a hold rating to a sell rating in a report issued on Thursday.

Several other research firms have also commented on SGMS. ValuEngine upgraded Scientific Games from a sell rating to a hold rating in a research report on Friday, February 22nd. Zacks Investment Research upgraded Scientific Games from a sell rating to a hold rating in a research report on Thursday, February 21st. Jefferies Financial Group lowered Scientific Games from a buy rating to a hold rating and set a $22.00 target price for the company. in a research report on Friday, November 16th. Susquehanna Bancshares initiated coverage on Scientific Games in a research report on Friday, December 7th. They set a positive rating and a $25.00 target price for the company. Finally, Deutsche Bank restated a hold rating and set a $26.00 target price on shares of Scientific Games in a research report on Monday, December 17th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $39.13.

SGMS traded up $0.76 on Thursday, hitting $23.36. The company had a trading volume of 14,001 shares, compared to its average volume of 1,529,102. The firm has a market cap of $2.10 billion, a P/E ratio of -43.24, a P/E/G ratio of 4.84 and a beta of 2.37. Scientific Games has a 12-month low of $14.79 and a 12-month high of $62.80.

Scientific Games (NASDAQ:SGMS) last released its quarterly earnings results on Thursday, February 21st. The technology company reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $2.11. The company had revenue of $885.70 million during the quarter, compared to analysts’ expectations of $871.92 million. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.48) EPS. Analysts predict that Scientific Games will post 0.48 earnings per share for the current year.

In other Scientific Games news, Director Ronald O. Perelman bought 200,000 shares of the company’s stock in a transaction on Thursday, December 20th. The stock was acquired at an average price of $15.63 per share, for a total transaction of $3,126,000.00. Following the completion of the transaction, the director now directly owns 88,032 shares of the company’s stock, valued at $1,375,940.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ronald O. Perelman bought 100,000 shares of the company’s stock in a transaction on Friday, December 28th. The shares were acquired at an average price of $17.65 per share, with a total value of $1,765,000.00. Following the transaction, the director now directly owns 88,032 shares of the company’s stock, valued at $1,553,764.80. The disclosure for this purchase can be found here. Insiders have acquired 900,000 shares of company stock valued at $14,921,000 in the last 90 days. Company insiders own 40.48% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new stake in shares of Scientific Games in the fourth quarter valued at approximately $58,000. LS Investment Advisors LLC boosted its holdings in shares of Scientific Games by 54.2% in the fourth quarter. LS Investment Advisors LLC now owns 6,010 shares of the technology company’s stock valued at $107,000 after purchasing an additional 2,112 shares during the period. Bank of Montreal Can boosted its holdings in shares of Scientific Games by 195.5% in the fourth quarter. Bank of Montreal Can now owns 6,270 shares of the technology company’s stock valued at $111,000 after purchasing an additional 4,148 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Scientific Games by 17.8% in the fourth quarter. Van ECK Associates Corp now owns 7,252 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,094 shares during the period. Finally, Dupont Capital Management Corp purchased a new stake in shares of Scientific Games in the fourth quarter valued at approximately $155,000. Hedge funds and other institutional investors own 68.71% 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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