Scientific Games Corp’s (SGMS) “Buy” Rating Reaffirmed at Craig Hallum

Scientific Games Corp (NASDAQ:SGMS)‘s stock had its “buy” rating reiterated by equities researchers at Craig Hallum in a report released on Thursday, October 5th. They presently have a $56.00 price objective on the technology company’s stock, up from their previous price objective of $45.00. Craig Hallum’s target price would indicate a potential upside of 24.44% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Bank of America Corporation restated a “buy” rating and issued a $50.00 price target (up previously from $38.00) on shares of Scientific Games Corp in a research report on Wednesday, September 20th. Zacks Investment Research cut Scientific Games Corp from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Stifel Nicolaus raised their price target on Scientific Games Corp from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, September 18th. Finally, BidaskClub cut Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $42.20.

Shares of Scientific Games Corp (NASDAQ SGMS) traded down 4.33% during trading on Thursday, reaching $43.05. 174,890 shares of the company traded hands. The firm has a 50-day moving average price of $41.33 and a 200-day moving average price of $30.48. The firm’s market capitalization is $3.85 billion. Scientific Games Corp has a 12 month low of $10.90 and a 12 month high of $48.05.

Scientific Games Corp (NASDAQ:SGMS) last posted its quarterly earnings data on Monday, July 24th. The technology company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.08. The firm had revenue of $766.30 million for the quarter, compared to the consensus estimate of $732.93 million. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.59) EPS. Equities research analysts anticipate that Scientific Games Corp will post ($2.24) EPS for the current year.

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In other news, EVP James C. Kennedy sold 122,681 shares of Scientific Games Corp stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $37.14, for a total transaction of $4,556,372.34. Following the sale, the executive vice president now directly owns 186,363 shares of the company’s stock, valued at $6,921,521.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gabrielle K. Mcdonald sold 2,133 shares of Scientific Games Corp stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $38.50, for a total value of $82,120.50. Following the sale, the director now directly owns 7,173 shares in the company, valued at $276,160.50. The disclosure for this sale can be found here. Insiders have sold 192,850 shares of company stock worth $7,281,691 over the last three months. Insiders own 41.53% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Hanseatic Management Services Inc. raised its position in shares of Scientific Games Corp by 0.3% during the second quarter. Hanseatic Management Services Inc. now owns 54,440 shares of the technology company’s stock worth $1,421,000 after acquiring an additional 148 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Scientific Games Corp by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 21,000 shares of the technology company’s stock worth $548,000 after acquiring an additional 200 shares during the last quarter. Arizona State Retirement System raised its position in shares of Scientific Games Corp by 0.7% during the second quarter. Arizona State Retirement System now owns 26,867 shares of the technology company’s stock worth $701,000 after acquiring an additional 200 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Scientific Games Corp by 1.9% during the first quarter. Municipal Employees Retirement System of Michigan now owns 11,600 shares of the technology company’s stock worth $274,000 after acquiring an additional 220 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Scientific Games Corp by 0.3% during the second quarter. Prudential Financial Inc. now owns 91,974 shares of the technology company’s stock worth $2,401,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 62.77% of the company’s stock.

Scientific Games Corp Company Profile

Scientific Games Corporation is a developer of technology-based products and services and associated content for the gaming, lottery and interactive gaming industries. Its segments include Gaming, Lottery and Interactive. Its portfolio includes gaming machines and game content, casino management systems, table game products and services, instant and draw-based lottery games, server-based gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions.

Analyst Recommendations for Scientific Games Corp (NASDAQ:SGMS)

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