Barry F. Schwartz Purchases 5,000 Shares of Scientific Games Corp (SGMS) Stock

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Scientific Games Corp (NASDAQ:SGMS) Director Barry F. Schwartz acquired 5,000 shares of the stock in a transaction dated Monday, September 17th. The shares were bought at an average cost of $24.76 per share, with a total value of $123,800.00. Following the completion of the purchase, the director now directly owns 106,852 shares in the company, valued at $2,645,655.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of Scientific Games stock traded down $0.27 during trading on Friday, reaching $23.47. The company had a trading volume of 1,719,107 shares, compared to its average volume of 1,228,856. The firm has a market cap of $2.32 billion, a PE ratio of -10.52 and a beta of 2.29. 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 Corp has a fifty-two week low of $21.90 and a fifty-two week high of $62.80.

Scientific Games (NASDAQ:SGMS) last released its quarterly earnings data on Thursday, August 2nd. The technology company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $844.70 million for the quarter, compared to analyst estimates of $853.64 million. Scientific Games’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.44) EPS. On average, equities analysts predict that Scientific Games Corp will post -0.67 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its stake in Scientific Games by 136.6% during the second quarter. Cubist Systematic Strategies LLC now owns 32,125 shares of the technology company’s stock worth $1,579,000 after acquiring an additional 18,548 shares during the period. Sei Investments Co. increased its stake in shares of Scientific Games by 29,822.9% in the second quarter. Sei Investments Co. now owns 14,363 shares of the technology company’s stock valued at $706,000 after purchasing an additional 14,315 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Scientific Games by 3.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 300,551 shares of the technology company’s stock valued at $14,773,000 after purchasing an additional 9,491 shares during the period. Bank of Montreal Can acquired a new stake in shares of Scientific Games in the second quarter valued at approximately $104,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Scientific Games by 88.9% in the second quarter. Dynamic Technology Lab Private Ltd now owns 10,547 shares of the technology company’s stock valued at $518,000 after purchasing an additional 4,964 shares during the period. Hedge funds and other institutional investors own 70.63% of the company’s stock.

SGMS has been the subject of a number of research reports. SunTrust Banks initiated coverage on shares of Scientific Games in a research report on Monday, October 1st. They set a “buy” rating and a $36.00 price target for the company. BidaskClub cut shares of Scientific Games from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 7th. Jefferies Financial Group decreased their price target on shares of Scientific Games from $61.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, August 7th. ValuEngine cut shares of Scientific Games from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Stifel Nicolaus decreased their price target on shares of Scientific Games from $57.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Scientific Games presently has an average rating of “Hold” and a consensus price target of $48.43.

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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