TheStreet Upgrades Scientific Games (NASDAQ:SGMS) to “C-“

Scientific Games (NASDAQ:SGMS) was upgraded by equities research analysts at TheStreet from a “d+” rating to a “c-” rating in a research note issued to investors on Friday, TheStreetRatingsTable reports.

A number of other research firms have also recently weighed in on SGMS. ValuEngine raised Scientific Games from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. BidaskClub raised Scientific Games from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Susquehanna Bancshares cut Scientific Games from a “positive” rating to a “neutral” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Scientific Games presently has a consensus rating of “Hold” and an average price target of $24.20.

Shares of SGMS stock traded down $0.60 during trading hours on Friday, reaching $29.57. 71,601 shares of the company traded hands, compared to its average volume of 1,150,093. Scientific Games has a 12-month low of $14.79 and a 12-month high of $31.63. The company has a market cap of $2.79 billion, a P/E ratio of -55.00 and a beta of 2.24. The firm has a 50-day moving average price of $24.26 and a 200 day moving average price of $20.98.

Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.13. Scientific Games had a negative return on equity of 1.07% and a net margin of 3.50%. The firm had revenue of $855.00 million for the quarter, compared to analysts’ expectations of $851.61 million. During the same period in the previous year, the firm earned ($0.14) EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts expect that Scientific Games will post -0.75 EPS for the current fiscal year.

In related news, Director Richard M. Haddrill sold 45,681 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $23.94, for a total value of $1,093,603.14. Following the transaction, the director now directly owns 225,957 shares of the company’s stock, valued at approximately $5,409,410.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald O. Perelman purchased 50,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $20.42 per share, for a total transaction of $1,021,000.00. Following the completion of the acquisition, the director now owns 9,074 shares in the company, valued at approximately $185,291.08. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 350,000 shares of company stock worth $7,643,000. 40.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Atria Investments LLC purchased a new position in Scientific Games in the 2nd quarter worth approximately $554,000. Atwater Malick LLC purchased a new position in Scientific Games in the 3rd quarter worth approximately $31,000. Royal Bank of Canada lifted its holdings in Scientific Games by 547.9% in the 2nd quarter. Royal Bank of Canada now owns 3,019 shares of the technology company’s stock worth $60,000 after purchasing an additional 2,553 shares in the last quarter. Personal Wealth Partners purchased a new position in Scientific Games in the 2nd quarter worth approximately $69,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Scientific Games by 16.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,999 shares of the technology company’s stock worth $81,000 after purchasing an additional 556 shares in the last quarter. 63.47% of the stock is currently owned by institutional investors.

Scientific Games Company 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.

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Analyst Recommendations for Scientific Games (NASDAQ:SGMS)

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