Scientific Games (SGMS) Sees Strong Trading Volume
Shares of Scientific Games Co. (NASDAQ:SGMS) saw unusually-high trading volume on Tuesday . Approximately 42,467 shares were traded during mid-day trading, a decline of 96% from the previous session’s volume of 1,020,386 shares.The stock last traded at $59.30 and had previously closed at $59.40.
SGMS has been the topic of several recent analyst reports. Bank of America decreased their price target on Scientific Games from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, March 2nd. Zacks Investment Research lowered Scientific Games from a “hold” rating to a “sell” rating in a research report on Friday, February 9th. BidaskClub lowered Scientific Games from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Telsey Advisory Group initiated coverage on Scientific Games in a research report on Wednesday, March 14th. They set an “outperform” rating and a $52.00 price objective on the stock. Finally, ValuEngine upgraded Scientific Games from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $56.67.
The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of -27.02 and a beta of 2.53. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of -4.00.
In other Scientific Games news, Director Peter A. Cohen sold 5,000 shares of Scientific Games stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $41.54, for a total transaction of $207,700.00. Following the transaction, the director now directly owns 268,502 shares of the company’s stock, valued at approximately $11,153,573.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Gavin Isaacs sold 56,649 shares of Scientific Games stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $46.17, for a total value of $2,615,484.33. Following the transaction, the director now directly owns 42,779 shares in the company, valued at $1,975,106.43. The disclosure for this sale can be found here. Insiders have sold a total of 322,412 shares of company stock worth $15,578,145 in the last 90 days. 40.61% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SGMS. Fine Capital Partners L.P. lifted its holdings in Scientific Games by 53.2% during the 1st quarter. Fine Capital Partners L.P. now owns 3,724,612 shares of the technology company’s stock worth $154,944,000 after buying an additional 1,293,675 shares during the period. Hennessy Advisors Inc. lifted its holdings in Scientific Games by 326.6% during the 4th quarter. Hennessy Advisors Inc. now owns 822,100 shares of the technology company’s stock worth $42,174,000 after buying an additional 629,400 shares during the period. Renaissance Technologies LLC lifted its holdings in Scientific Games by 16.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,967,748 shares of the technology company’s stock worth $152,245,000 after buying an additional 424,762 shares during the period. RWC Asset Management LLP acquired a new position in Scientific Games during the 1st quarter worth about $14,560,000. Finally, Matarin Capital Management LLC acquired a new position in Scientific Games during the 1st quarter worth about $9,227,000. 65.98% of the stock is currently owned by hedge funds and other institutional investors.
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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