State Board of Administration of Florida Retirement System lessened its stake in Scientific Games Corp (NASDAQ:SGMS) by 18.7% in the second quarter, Holdings Channel reports. The institutional investor owned 33,375 shares of the technology company’s stock after selling 7,690 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Scientific Games were worth $1,640,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SGMS. Bank of Montreal Can acquired a new position in Scientific Games in the second quarter worth $104,000. Cerebellum GP LLC acquired a new position in Scientific Games in the second quarter worth $121,000. LS Investment Advisors LLC boosted its holdings in Scientific Games by 42.9% in the first quarter. LS Investment Advisors LLC now owns 4,441 shares of the technology company’s stock worth $185,000 after purchasing an additional 1,333 shares during the period. Alps Advisors Inc. acquired a new position in Scientific Games in the second quarter worth $208,000. Finally, Verition Fund Management LLC acquired a new position in Scientific Games in the first quarter worth $222,000. Institutional investors and hedge funds own 70.66% of the company’s stock.

A number of research firms have commented on SGMS. Jefferies Financial Group decreased their price objective on shares of Scientific Games from $61.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, August 7th. Telsey Advisory Group lifted their price objective on shares of Scientific Games from $59.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, May 24th. Zacks Investment Research downgraded shares of Scientific Games from a “buy” rating to a “hold” rating in a report on Friday, May 4th. TheStreet downgraded shares of Scientific Games from a “c-” rating to a “d+” rating in a report on Friday, August 3rd. Finally, ValuEngine downgraded shares of Scientific Games from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $51.29.

In related news, insider Michael Winterscheidt sold 4,420 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $56.77, for a total value of $250,923.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry F. Schwartz acquired 5,000 shares of Scientific Games stock in a transaction that occurred on Wednesday, August 15th. The stock was bought at an average cost of $30.35 per share, with a total value of $151,750.00. Following the acquisition, the director now directly owns 101,852 shares of the company’s stock, valued at $3,091,208.20. The disclosure for this purchase can be found here. In the last three months, insiders have bought 190,000 shares of company stock valued at $6,036,900. Corporate insiders own 40.48% of the company’s stock.

Shares of SGMS opened at $30.35 on Friday. Scientific Games Corp has a 1 year low of $29.10 and a 1 year high of $62.80. 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 announced its quarterly earnings results on Thursday, August 2nd. The technology company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $844.70 million for the quarter, compared to analyst estimates of $853.64 million. During the same period last year, the firm posted ($0.44) EPS. The business’s revenue was up 10.2% compared to the same quarter last year. sell-side analysts expect that Scientific Games Corp will post -0.67 EPS for the current fiscal year.

Scientific Games Company Profile

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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Institutional Ownership by Quarter for Scientific Games (NASDAQ:SGMS)

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