SciPlay (NASDAQ:SCPL) Downgraded by Bank of America to “Underperform”

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Bank of America cut shares of SciPlay (NASDAQ:SCPL) from a buy rating to an underperform rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. Bank of America currently has $12.00 target price on the stock, down from their previous target price of $17.00.

SCPL has been the topic of a number of other research reports. Zacks Investment Research raised shares of SciPlay from a hold rating to a buy rating and set a $12.00 price target on the stock in a report on Thursday, August 8th. Goldman Sachs Group assumed coverage on shares of SciPlay in a report on Tuesday, May 28th. They issued a buy rating and a $19.00 target price on the stock. Stephens assumed coverage on shares of SciPlay in a report on Wednesday, May 22nd. They issued an overweight rating and a $20.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of SciPlay in a report on Tuesday, May 28th. They issued an overweight rating and a $19.00 target price on the stock. Finally, Morgan Stanley lowered their target price on shares of SciPlay from $17.00 to $13.00 and set an equal weight rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $17.45.

SciPlay stock traded up $0.06 during mid-day trading on Thursday, reaching $10.95. The company had a trading volume of 300 shares, compared to its average volume of 315,343. SciPlay has a fifty-two week low of $9.12 and a fifty-two week high of $18.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 2.70. The company has a fifty day moving average of $10.44.

SciPlay (NASDAQ:SCPL) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.36. The company had revenue of $118.10 million during the quarter, compared to the consensus estimate of $118.50 million. SciPlay’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, analysts expect that SciPlay will post 1.76 earnings per share for the current year.

In other SciPlay news, Director Michael Marchetti acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $10.39 per share, with a total value of $103,900.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Park West Asset Management LLC purchased a new position in SciPlay during the second quarter worth about $45,650,000. Vanguard Group Inc. acquired a new position in shares of SciPlay in the 2nd quarter worth $26,041,000. JPMorgan Chase & Co. acquired a new position in shares of SciPlay in the 2nd quarter worth $16,692,000. Carillon Tower Advisers Inc. acquired a new position in shares of SciPlay in the 2nd quarter worth $11,518,000. Finally, SG Capital Management LLC acquired a new position in shares of SciPlay in the 2nd quarter worth $10,568,000. 18.79% of the stock is owned by institutional investors.

About SciPlay

SciPlay Corporation develops and publishes digital games on mobile and Web platforms. The company offers seven games, which include social casino games, such as Jackpot Party Casino, Gold Fish Casino, Hot Shot Casino, and Quick Hit Slots, as well as casual games comprising MONOPOLY Slots, Bingo Showdown, and 88 Fortunes Slots.

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Analyst Recommendations for SciPlay (NASDAQ:SCPL)

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