BidaskClub Upgrades Scientific Games (NASDAQ:SGMS) to “Sell”
A number of other research firms also recently issued reports on SGMS. Telsey Advisory Group restated an “outperform” rating and issued a $31.00 price target (down from $36.00) on shares of Scientific Games in a research note on Wednesday, May 8th. Deutsche Bank downgraded Ontex Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $29.00.
Scientific Games stock opened at $20.19 on Friday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 126.19, a price-to-earnings-growth ratio of 63.76 and a beta of 2.27. The business has a fifty day simple moving average of $19.61. Scientific Games has a 12 month low of $14.79 and a 12 month high of $49.90.
In related news, Director Ronald O. Perelman bought 120,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were bought at an average cost of $20.29 per share, for a total transaction of $2,434,800.00. Following the completion of the transaction, the director now owns 7,519 shares of the company’s stock, valued at $152,560.51. 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 110,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $19.73 per share, for a total transaction of $2,170,300.00. Following the completion of the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $148,349.87. The disclosure for this purchase can be found here. 40.48% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its position in shares of Scientific Games by 1.8% during the second quarter. Arizona State Retirement System now owns 40,465 shares of the technology company’s stock worth $802,000 after purchasing an additional 721 shares in the last quarter. Selz Capital LLC acquired a new position in shares of Scientific Games in the 2nd quarter valued at $1,722,000. Cerebellum GP LLC acquired a new position in shares of Scientific Games in the 1st quarter valued at $322,000. Trexquant Investment LP acquired a new position in shares of Scientific Games in the 1st quarter valued at $1,306,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Scientific Games in the 1st quarter valued at $995,000. Institutional investors own 65.21% of the company’s stock.
Scientific Games Company Profile
Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and digital gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; slot, casino, and table-management systems; table products, including shufflers; and perpetual licenses to proprietary table games.
Further Reading: Oversold
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