A number of other research firms also recently weighed in on SGMS. Deutsche Bank increased their target price on shares of Scientific Games from $8.00 to $16.00 and gave the company a hold rating in a research report on Monday, July 27th. SunTrust Banks increased their price objective on Scientific Games from $15.00 to $30.00 and gave the company a buy rating in a report on Thursday, June 18th. Zacks Investment Research upgraded Scientific Games from a strong sell rating to a hold rating and set a $13.00 target price on the stock in a research note on Tuesday, June 16th. Craig Hallum reiterated a buy rating on shares of Scientific Games in a research note on Friday, June 12th. Finally, ValuEngine cut Scientific Games from a buy rating to a hold rating in a research note on Tuesday, September 1st. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $27.00.
Shares of NASDAQ:SGMS opened at $32.96 on Thursday. Scientific Games has a 1 year low of $3.76 and a 1 year high of $33.86. The company has a market capitalization of $3.12 billion, a PE ratio of -7.94 and a beta of 2.44. The business has a fifty day moving average price of $20.63 and a two-hundred day moving average price of $15.03.
In other news, Chairman Ronald O. Perelman sold 9,375,806 shares of Scientific Games stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $28.00, for a total value of $262,522,568.00. Following the completion of the transaction, the chairman now directly owns 17,104 shares in the company, valued at $478,912. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 40.30% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its holdings in Scientific Games by 747.2% during the 1st quarter. Morgan Stanley now owns 3,040,860 shares of the technology company’s stock worth $29,497,000 after acquiring an additional 2,681,942 shares during the period. Marshall Wace LLP purchased a new position in shares of Scientific Games during the 2nd quarter valued at $379,000. First Trust Advisors LP increased its holdings in shares of Scientific Games by 34.8% in the first quarter. First Trust Advisors LP now owns 108,117 shares of the technology company’s stock worth $1,049,000 after purchasing an additional 27,888 shares during the period. Algert Global LLC purchased a new stake in shares of Scientific Games in the second quarter worth $526,000. Finally, Bank of America Corp DE boosted its stake in Scientific Games by 8,147.1% during the second quarter. Bank of America Corp DE now owns 1,334,957 shares of the technology company’s stock valued at $20,639,000 after buying an additional 1,318,770 shares during the period. Institutional investors own 59.49% of the company’s stock.
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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