Scientific Games (NASDAQ:SGMS) Downgraded by BidaskClub

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Scientific Games (NASDAQ:SGMS) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Separately, ValuEngine raised shares of Scientific Games from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.20.

Shares of NASDAQ SGMS traded up $0.95 during midday trading on Tuesday, reaching $23.69. 17,758 shares of the company’s stock traded hands, compared to its average volume of 958,188. The stock’s 50 day simple moving average is $21.43 and its 200-day simple moving average is $20.31. Scientific Games has a one year low of $14.79 and a one year high of $29.95. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -43.13 and a beta of 2.23.

Scientific Games (NASDAQ:SGMS) last released its quarterly earnings data on Thursday, August 1st. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.11). Scientific Games had a negative net margin of 7.25% and a negative return on equity of 0.52%. The business had revenue of $845.00 million for the quarter, compared to the consensus estimate of $859.67 million. Equities analysts predict that Scientific Games will post -0.88 EPS for the current fiscal year.

In other news, Director Ronald O. Perelman bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $20.42 per share, with a total value of $1,021,000.00. Following the completion of the transaction, the director now directly owns 9,074 shares of the company’s stock, valued at approximately $185,291.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Haddrill sold 45,681 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $23.94, for a total transaction of $1,093,603.14. Following the sale, the director now directly owns 225,957 shares of the company’s stock, valued at approximately $5,409,410.58. The disclosure for this sale can be found here. Insiders have purchased 350,000 shares of company stock valued at $7,643,000 in the last three months. 40.60% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Atwater Malick LLC purchased a new stake in Scientific Games during the third quarter valued at approximately $31,000. Royal Bank of Canada raised its holdings in shares of Scientific Games by 547.9% in the second quarter. Royal Bank of Canada now owns 3,019 shares of the technology company’s stock worth $60,000 after buying an additional 2,553 shares during the last quarter. Personal Wealth Partners purchased a new position in shares of Scientific Games in the second quarter worth $69,000. Dupont Capital Management Corp raised its holdings in shares of Scientific Games by 32.7% in the second quarter. Dupont Capital Management Corp now owns 6,900 shares of the technology company’s stock worth $137,000 after buying an additional 1,700 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Scientific Games in the third quarter worth $195,000. 64.41% of the stock is owned by institutional investors.

About Scientific Games

Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and digital gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; slot, casino, and table-management systems; table products, including shufflers; and perpetual licenses to proprietary table games.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

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