Scientific Games (NASDAQ:SGMS) Trading Up 14.8%

Shares of Scientific Games Corp (NASDAQ:SGMS) were up 14.8% during trading on Wednesday . The company traded as high as $19.00 and last traded at $18.65, approximately 3,192,850 shares changed hands during trading. An increase of 77% from the average daily volume of 1,804,322 shares. The stock had previously closed at $16.24.

A number of analysts have commented on SGMS shares. Deutsche Bank restated a “neutral” rating on shares of Scientific Games in a research note on Tuesday, May 12th. Zacks Investment Research upgraded shares of Scientific Games from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Thursday, March 26th. BidaskClub upgraded shares of Scientific Games from a “hold” rating to a “buy” rating in a research note on Friday, May 29th. ValuEngine upgraded shares of Scientific Games from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Scientific Games from $25.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.50.

The stock has a market capitalization of $1.53 billion, a PE ratio of -6.47 and a beta of 2.50. The stock’s fifty day simple moving average is $12.16 and its 200-day simple moving average is $19.66.

Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings data on Monday, May 11th. The technology company reported ($0.72) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.50). The firm had revenue of $725.00 million for the quarter, compared to analysts’ expectations of $748.48 million. Scientific Games had a negative return on equity of 0.53% and a negative net margin of 8.06%. Scientific Games’s revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.26) earnings per share. On average, equities analysts anticipate that Scientific Games Corp will post -4.83 EPS for the current year.

In other news, CEO Barry L. Cottle acquired 5,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were purchased at an average cost of $10.34 per share, with a total value of $51,700.00. Following the acquisition, the chief executive officer now directly owns 101,249 shares of the company’s stock, valued at $1,046,914.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. 40.30% of the stock is owned by insiders.

Several large investors have recently modified their holdings of SGMS. Morgan Stanley boosted its holdings in shares of Scientific Games by 747.2% in the 1st quarter. Morgan Stanley now owns 3,040,860 shares of the technology company’s stock worth $29,497,000 after buying an additional 2,681,942 shares during the last quarter. Norges Bank purchased a new position in shares of Scientific Games in the 4th quarter worth about $10,602,000. Russell Investments Group Ltd. boosted its holdings in shares of Scientific Games by 284.0% in the 1st quarter. Russell Investments Group Ltd. now owns 469,599 shares of the technology company’s stock worth $4,514,000 after buying an additional 347,322 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Scientific Games by 42.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,015,721 shares of the technology company’s stock worth $27,201,000 after buying an additional 303,223 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Scientific Games by 244.4% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 424,010 shares of the technology company’s stock worth $11,354,000 after buying an additional 300,885 shares during the last quarter. 59.97% of the stock is currently owned by institutional investors.

About Scientific Games (NASDAQ:SGMS)

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.

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