Zacks Investment Research Lowers Scientific Games Corp. (SGMS) to Sell
Scientific Games Corp. (NASDAQ:SGMS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
According to Zacks, “Scientific Games has been impacted by the weakness in the gaming segment especially with regard to WAP, premium installed base and gaming systems. Nonetheless, the company holds a premium position in the gaming equipment space. In addition, the acquisitions of Bally Technologies and WMS Industries are positives as they diversify its product portfolio and expand its global footprint. Earnings estimates for the company have remained stable for a while now.”
Separately, Deutsche Bank AG reiterated a “hold” rating and issued a $7.00 target price on shares of Scientific Games Corp. in a research note on Sunday, June 26th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Scientific Games Corp. has an average rating of “Hold” and a consensus target price of $10.02.
Scientific Games Corp. (NASDAQ:SGMS) traded down 0.78% on Monday, hitting $12.65. 269,642 shares of the company were exchanged. The stock’s market capitalization is $1.11 billion. Scientific Games Corp. has a 52 week low of $4.56 and a 52 week high of $13.33. The company has a 50 day moving average price of $10.75 and a 200-day moving average price of $9.81.
Scientific Games Corp. (NASDAQ:SGMS) last posted its earnings results on Friday, August 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the 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 quarter last year, the firm earned ($1.19) EPS. On average, equities analysts expect that Scientific Games Corp. will post ($3.25) earnings per share 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 transaction of $1,049,000.00. Following the completion of the sale, the director now owns 121,765 shares of the company’s stock, valued at $1,277,314.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 42.03% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Profund Advisors LLC increased its stake in Scientific Games Corp. by 3.8% in the second quarter. Profund Advisors LLC now owns 11,830 shares of the company’s stock worth $109,000 after buying an additional 432 shares during the period. Clinton Group Inc. purchased a new stake in Scientific Games Corp. during the second quarter worth approximately $113,000. BNP Paribas Arbitrage SA increased its stake in Scientific Games Corp. by 123.5% in the second quarter. BNP Paribas Arbitrage SA now owns 15,747 shares of the company’s stock worth $145,000 after buying an additional 8,700 shares during the period. Highbridge Capital Management LLC purchased a new stake in Scientific Games Corp. during the second quarter worth approximately $197,000. Finally, Bayesian Capital Management LP purchased a new stake in Scientific Games Corp. during the first quarter worth approximately $203,000. 67.90% of the stock is owned by hedge funds and other institutional investors.
Scientific Games Corp. Company Profile
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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