Scientific Games Corp. (SGMS) Bonds Rise 4% During Trading
An issue of Scientific Games Corp. (NASDAQ:SGMS) bonds rose 4% as a percentage of their face value during trading on Thursday. The debt issue has a 6.625% coupon and will mature on May 15, 2021. The bonds in the issue are now trading at $83.00 and were trading at $77.06 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.
Several research analysts have recently weighed in on SGMS shares. Zacks Investment Research lowered shares of Scientific Games Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th. Deutsche Bank AG reiterated a “hold” rating and set a $7.00 price objective on shares of Scientific Games Corp. in a report on Sunday, June 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $10.02.
Shares of Scientific Games Corp. (NASDAQ:SGMS) opened at 11.85 on Friday. The firm has a 50-day moving average of $10.06 and a 200 day moving average of $9.67. Scientific Games Corp. has a 12 month low of $4.56 and a 12 month high of $12.83. The firm’s market cap is $1.04 billion.
Scientific Games Corp. (NASDAQ:SGMS) last issued its quarterly earnings results on Friday, August 5th. The company reported ($0.59) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.22. The company earned $729.20 million during the quarter, compared to analysts’ expectations of $708.84 million. During the same period in the prior year, the business posted ($1.19) EPS. On average, equities research analysts anticipate that Scientific Games Corp. will post ($3.25) EPS for the current fiscal year.
In related news, Director David L. Kennedy sold 100,000 shares of Scientific Games Corp. stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $10.49, for a total value of $1,049,000.00. Following the transaction, the director now owns 121,765 shares of the company’s stock, valued at approximately $1,277,314.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 42.03% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. bought a new position in shares of Scientific Games Corp. during the first quarter worth $248,000. Prudential Financial Inc. boosted its position in Scientific Games Corp. by 3.7% in the first quarter. Prudential Financial Inc. now owns 119,310 shares of the company’s stock valued at $1,125,000 after buying an additional 4,300 shares during the period. BlackRock Group LTD boosted its position in Scientific Games Corp. by 14.6% in the first quarter. BlackRock Group LTD now owns 89,645 shares of the company’s stock valued at $845,000 after buying an additional 11,404 shares during the period. Menta Capital LLC acquired a new position in Scientific Games Corp. during the first quarter valued at $258,000. Finally, Spark Investment Management LLC boosted its position in Scientific Games Corp. by 538.5% in the first quarter. Spark Investment Management LLC now owns 588,100 shares of the company’s stock valued at $5,545,000 after buying an additional 496,000 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.
About Scientific Games Corp.
Scientific Games Corporation is a developer of technology-based products and services, and associated content for the gaming, lottery and interactive gaming industries. The Company operates through three segments: Gaming, Lottery and Interactive. The Company’s portfolio includes gaming machines and game content, casino management systems, table game products and services, instant and draw-based lottery games, server-based gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions.
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