Scientific Games Corp (NASDAQ:SGMS) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 24,519 call options on the company. This represents an increase of 1,865% compared to the average volume of 1,248 call options.

NASDAQ:SGMS opened at $23.15 on Wednesday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -42.87, a price-to-earnings-growth ratio of 6.96 and a beta of 2.24. Scientific Games has a 52 week low of $14.79 and a 52 week high of $62.80.

Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings results on Thursday, February 21st. The technology company reported $2.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $2.11. The business had revenue of $885.70 million for the quarter, compared to the consensus estimate of $871.92 million. Scientific Games’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.48) earnings per share. On average, equities research analysts predict that Scientific Games will post 0.48 EPS for the current year.

In related news, Director Ronald O. Perelman bought 100,000 shares of the stock in a transaction that occurred on Friday, December 28th. The shares were bought at an average cost of $17.65 per share, for a total transaction of $1,765,000.00. Following the completion of the transaction, the director now owns 88,032 shares of the company’s stock, valued at $1,553,764.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald O. Perelman bought 200,000 shares of the stock in a transaction that occurred on Monday, December 24th. The shares were bought at an average price of $16.20 per share, for a total transaction of $3,240,000.00. Following the completion of the transaction, the director now directly owns 88,032 shares of the company’s stock, valued at approximately $1,426,118.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 900,000 shares of company stock worth $14,921,000. Company insiders own 40.48% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Scientific Games by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 641,615 shares of the technology company’s stock valued at $11,472,000 after acquiring an additional 34,255 shares during the period. Norges Bank bought a new stake in Scientific Games during the fourth quarter valued at about $6,008,000. Dimensional Fund Advisors LP raised its holdings in Scientific Games by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 848,228 shares of the technology company’s stock valued at $15,166,000 after acquiring an additional 9,482 shares during the period. HRT Financial LLC bought a new stake in Scientific Games during the fourth quarter valued at about $213,000. Finally, Legal & General Group Plc raised its holdings in Scientific Games by 1.9% during the fourth quarter. Legal & General Group Plc now owns 53,426 shares of the technology company’s stock valued at $956,000 after acquiring an additional 1,017 shares during the period. 65.46% of the stock is currently owned by institutional investors and hedge funds.

SGMS has been the topic of several analyst reports. BidaskClub downgraded Scientific Games from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 13th. Jefferies Financial Group downgraded Scientific Games from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research report on Friday, November 16th. Susquehanna Bancshares initiated coverage on Scientific Games in a research report on Friday, December 7th. They set a “positive” rating and a $25.00 target price on the stock. Deutsche Bank reiterated a “hold” rating and set a $26.00 target price on shares of Scientific Games in a research report on Monday, December 17th. Finally, Zacks Investment Research downgraded Scientific Games from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.13.

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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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