James C. Kennedy Sells 30,384 Shares of Scientific Games Corp (SGMS) Stock
Scientific Games Corp (NASDAQ:SGMS) EVP James C. Kennedy sold 30,384 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $48.35, for a total value of $1,469,066.40. Following the transaction, the executive vice president now directly owns 105,029 shares in the company, valued at $5,078,152.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Scientific Games Corp (NASDAQ:SGMS) remained flat at $$48.25 during midday trading on Tuesday. 768,822 shares of the company traded hands, compared to its average volume of 794,292. The company has a debt-to-equity ratio of -4.07, a quick ratio of 1.45 and a current ratio of 1.83. Scientific Games Corp has a 52-week low of $11.35 and a 52-week high of $49.70.
Scientific Games Corp (NASDAQ:SGMS) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.22). The company had revenue of $768.90 million during the quarter, compared to the consensus estimate of $748.56 million. During the same quarter in the previous year, the company earned ($1.13) EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. research analysts predict that Scientific Games Corp will post -2.32 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGMS. BlackRock Inc. boosted its position in shares of Scientific Games Corp by 157,167.7% during the first quarter. BlackRock Inc. now owns 6,120,858 shares of the technology company’s stock valued at $144,758,000 after purchasing an additional 6,116,966 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in Scientific Games Corp in the second quarter worth $36,929,000. Vanguard Group Inc. boosted its holdings in Scientific Games Corp by 27.6% in the first quarter. Vanguard Group Inc. now owns 5,916,233 shares of the technology company’s stock worth $139,918,000 after acquiring an additional 1,278,837 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Scientific Games Corp by 152.3% in the second quarter. Renaissance Technologies LLC now owns 1,538,848 shares of the technology company’s stock worth $40,164,000 after acquiring an additional 928,800 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Scientific Games Corp in the second quarter worth $17,104,000. Institutional investors own 62.91% of the company’s stock.
SGMS has been the topic of several research analyst reports. Zacks Investment Research raised Scientific Games Corp from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Thursday, July 20th. Craig Hallum reissued a “buy” rating and set a $56.00 target price (up from $45.00) on shares of Scientific Games Corp in a research note on Thursday, October 5th. Bank of America Corporation reissued a “buy” rating and set a $50.00 target price (up from $38.00) on shares of Scientific Games Corp in a research note on Wednesday, September 20th. Finally, Stifel Nicolaus lifted their price target on Scientific Games Corp from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, September 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Scientific Games Corp currently has an average rating of “Buy” and a consensus target price of $42.20.
Scientific Games Corp Company Profile
Scientific Games Corporation is a developer of technology-based products and services and associated content for the gaming, lottery and interactive gaming industries. Its segments include Gaming, Lottery and Interactive. Its portfolio includes gaming machines and game content, casino management systems, table game products and services, instant and draw-based lottery games, server-based gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions.
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