Scientific Games (SGMS) Downgraded by ValuEngine
ValuEngine lowered shares of Scientific Games (NASDAQ:SGMS) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
Other research analysts also recently issued reports about the company. Jefferies Financial Group reduced their target price on Scientific Games from $61.00 to $46.00 and set a buy rating for the company in a research note on Tuesday, August 7th. BidaskClub downgraded Scientific Games from a strong-buy rating to a buy rating in a research note on Friday, June 8th. Zacks Investment Research upgraded Scientific Games from a hold rating to a buy rating and set a $57.00 target price for the company in a research note on Monday, July 16th. TheStreet downgraded Scientific Games from a c- rating to a d+ rating in a research note on Friday, August 3rd. Finally, Stifel Nicolaus reduced their target price on Scientific Games from $57.00 to $46.00 and set a hold rating for the company in a research note on Friday, August 3rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $51.29.
Shares of NASDAQ SGMS opened at $27.50 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.92 and a debt-to-equity ratio of -3.90. Scientific Games has a 12 month low of $27.45 and a 12 month high of $62.80. The company has a market cap of $2.77 billion, a PE ratio of -12.33 and a beta of 2.32.
In other news, Director Ronald O. Perelman purchased 175,000 shares of Scientific Games stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average cost of $31.73 per share, for a total transaction of $5,552,750.00. Following the purchase, the director now directly owns 88,032 shares of the company’s stock, valued at approximately $2,793,255.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Winterscheidt sold 4,420 shares of the business’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $56.77, for a total value of $250,923.40. The disclosure for this sale can be found here. Insiders purchased a total of 190,000 shares of company stock valued at $6,036,900 over the last 90 days. 40.48% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Scientific Games by 6.3% in the 2nd quarter. BlackRock Inc. now owns 6,072,629 shares of the technology company’s stock valued at $298,469,000 after purchasing an additional 361,648 shares during the period. Fine Capital Partners L.P. boosted its stake in Scientific Games by 53.2% in the 1st quarter. Fine Capital Partners L.P. now owns 3,724,612 shares of the technology company’s stock valued at $154,944,000 after purchasing an additional 1,293,675 shares during the period. Whale Rock Capital Management LLC boosted its stake in Scientific Games by 25.0% in the 2nd quarter. Whale Rock Capital Management LLC now owns 2,610,625 shares of the technology company’s stock valued at $128,312,000 after purchasing an additional 522,724 shares during the period. Dimensional Fund Advisors LP boosted its stake in Scientific Games by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 851,431 shares of the technology company’s stock valued at $35,419,000 after purchasing an additional 6,523 shares during the period. Finally, Northern Trust Corp boosted its stake in Scientific Games by 21.5% in the 1st quarter. Northern Trust Corp now owns 821,706 shares of the technology company’s stock valued at $34,182,000 after purchasing an additional 145,318 shares during the period. Institutional investors and hedge funds own 70.64% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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