Analysts Set Scientific Games Corp (NASDAQ:SGMS) Price Target at $24.20

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Scientific Games Corp (NASDAQ:SGMS) has received an average rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $24.20.

Several research analysts have commented on the company. BidaskClub downgraded Scientific Games from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. ValuEngine upgraded Scientific Games from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd.

Shares of NASDAQ SGMS traded up $1.89 during midday trading on Thursday, hitting $22.35. The company’s stock had a trading volume of 1,327,493 shares, compared to its average volume of 976,672. The business’s 50 day moving average is $20.36 and its two-hundred day moving average is $20.20. The firm has a market cap of $1.91 billion, a P/E ratio of -41.38 and a beta of 2.23. Scientific Games has a 12-month low of $14.79 and a 12-month high of $29.95.

Scientific Games (NASDAQ:SGMS) last released its quarterly earnings data on Thursday, August 1st. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.11). The firm had revenue of $845.00 million for the quarter, compared to analysts’ expectations of $859.67 million. Scientific Games had a negative return on equity of 0.52% and a negative net margin of 7.25%. As a group, research analysts expect that Scientific Games will post -0.88 EPS for the current year.

In related news, Director Ronald O. Perelman bought 100,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average price of $22.41 per share, with a total value of $2,241,000.00. Following the transaction, the director now owns 9,074 shares of the company’s stock, valued at $203,348.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronald O. Perelman bought 50,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were bought at an average cost of $20.42 per share, for a total transaction of $1,021,000.00. Following the transaction, the director now directly owns 9,074 shares in the company, valued at approximately $185,291.08. The disclosure for this purchase can be found here. Insiders have acquired a total of 350,000 shares of company stock worth $7,643,000 over the last 90 days. 40.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new stake in Scientific Games during the 3rd quarter valued at $195,000. River & Mercantile Asset Management LLP bought a new stake in Scientific Games during the 2nd quarter valued at $810,000. Park West Asset Management LLC bought a new stake in Scientific Games during the 2nd quarter valued at $29,973,000. Atria Investments LLC bought a new stake in Scientific Games during the 2nd quarter valued at $554,000. Finally, Intrinsic Edge Capital Management LLC bought a new stake in Scientific Games during the 2nd quarter valued at $14,619,000. 64.49% of the stock is currently owned by institutional investors and hedge funds.

About Scientific Games

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.

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Analyst Recommendations for Scientific Games (NASDAQ:SGMS)

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