Insider Buying: Scientific Games Corp (SGMS) Director Buys 175,000 Shares of Stock
Scientific Games Corp (NASDAQ:SGMS) Director Ronald O. Perelman acquired 175,000 shares of Scientific Games stock in a transaction dated Monday, August 13th. The shares were purchased at an average cost of $31.73 per share, with a total value of $5,552,750.00. Following the completion of the transaction, the director now directly owns 88,032 shares of the company’s stock, valued at $2,793,255.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
SGMS opened at $31.75 on Tuesday. Scientific Games Corp has a 52-week low of $31.10 and a 52-week high of $62.80. The stock has a market cap of $3.04 billion, a P/E ratio of -14.24 and a beta of 2.41. The company has a debt-to-equity ratio of -3.90, a quick ratio of 1.58 and a current ratio of 1.92.
Scientific Games (NASDAQ:SGMS) last released its earnings results on Thursday, August 2nd. The technology company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $844.70 million for the quarter, compared to the consensus estimate of $853.64 million. During the same quarter in the previous year, the company posted ($0.44) EPS. The business’s revenue was up 10.2% on a year-over-year basis. equities research analysts predict that Scientific Games Corp will post -0.67 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund bought a new stake in Scientific Games during the second quarter worth about $1,010,000. Prescott Group Capital Management L.L.C. bought a new stake in Scientific Games during the second quarter worth about $2,457,000. Federated Investors Inc. PA raised its holdings in Scientific Games by 31.2% during the second quarter. Federated Investors Inc. PA now owns 154,354 shares of the technology company’s stock worth $7,586,000 after acquiring an additional 36,669 shares in the last quarter. BlackRock Inc. raised its holdings in Scientific Games by 6.3% during the second quarter. BlackRock Inc. now owns 6,072,629 shares of the technology company’s stock worth $298,469,000 after acquiring an additional 361,648 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Scientific Games during the second quarter worth about $315,000. Institutional investors and hedge funds own 63.29% of the company’s stock.
About Scientific Games
Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and interactive gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals (VLTs), 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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