Personal Wealth Partners purchased a new position in shares of Scientific Games Corp (NASDAQ:SGMS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,500 shares of the technology company’s stock, valued at approximately $69,000.
A number of other institutional investors have also recently added to or reduced their stakes in SGMS. Norges Bank purchased a new position in Scientific Games during the fourth quarter worth about $6,008,000. Royce & Associates LP bought a new stake in Scientific Games in the first quarter worth about $2,050,000. Stevens Capital Management LP bought a new stake in Scientific Games in the first quarter worth about $1,940,000. Selz Capital LLC bought a new stake in Scientific Games in the second quarter worth about $1,722,000. Finally, Trexquant Investment LP bought a new stake in Scientific Games in the first quarter worth about $1,306,000. Institutional investors and hedge funds own 64.29% of the company’s stock.
In other Scientific Games news, Director Ronald O. Perelman purchased 110,000 shares of the stock in a transaction dated Monday, June 17th. The shares were bought at an average price of $19.73 per share, with a total value of $2,170,300.00. Following the completion of the transaction, the director now directly owns 7,519 shares in the company, valued at approximately $148,349.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald O. Perelman purchased 120,000 shares of the stock in a transaction dated Wednesday, June 19th. The stock was acquired at an average cost of $20.29 per share, for a total transaction of $2,434,800.00. Following the transaction, the director now owns 7,519 shares of the company’s stock, valued at $152,560.51. The disclosure for this purchase can be found here. Insiders own 40.60% of the company’s stock.
Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.19. Scientific Games had a negative net margin of 7.25% and a negative return on equity of 0.52%. The company had revenue of $837.00 million for the quarter, compared to analyst estimates of $832.28 million. During the same quarter in the previous year, the firm posted ($2.24) earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Research analysts forecast that Scientific Games Corp will post -0.75 earnings per share for the current fiscal year.
Several analysts have commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $31.00 price objective (down previously from $36.00) on shares of Scientific Games in a research report on Wednesday, May 8th. ValuEngine raised shares of Scientific Games from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub raised shares of Scientific Games from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank lowered their price objective on shares of Scientific Games from $26.00 to $22.00 and set an “in-line” rating on the stock in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $26.17.
Scientific Games Profile
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: Bid-Ask Spread
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