Scientific Games (NASDAQ:SGMS) Cut to Strong Sell at BidaskClub

BidaskClub downgraded shares of Scientific Games (NASDAQ:SGMS) from a sell rating to a strong sell rating in a research note published on Wednesday, June 26th, BidAskClub reports.

SGMS has been the subject of a number of other reports. Deutsche Bank downgraded shares of Ontex Group from a buy rating to a hold rating in a research report on Wednesday, May 8th. ValuEngine cut shares of Olympic Steel from a sell rating to a strong sell rating in a research note on Thursday, March 7th. Credit Suisse Group reissued a neutral rating and issued a $108.00 price objective on shares of Wynn Resorts in a research note on Wednesday, March 20th. Finally, Telsey Advisory Group reissued an outperform rating and issued a $31.00 price objective (down from $36.00) on shares of Scientific Games in a research note on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $29.00.

SGMS stock traded down $0.80 during trading hours on Wednesday, reaching $18.47. 1,391,990 shares of the stock were exchanged, compared to its average volume of 1,421,767. Scientific Games has a 12 month low of $14.79 and a 12 month high of $51.05. The company has a market cap of $1.79 billion, a P/E ratio of -34.17, a price-to-earnings-growth ratio of 63.06 and a beta of 2.27. The firm’s 50-day simple moving average is $19.77.

Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.19. Scientific Games had a negative net margin of 5.15% and a negative return on equity of 0.60%. The firm had revenue of $837.00 million during the quarter, compared to the consensus estimate of $832.28 million. During the same period last year, the business posted ($2.24) earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that Scientific Games will post 0.03 earnings per share for the current year.

In related news, Director Ronald O. Perelman acquired 110,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were purchased at an average price of $19.73 per share, for a total transaction of $2,170,300.00. Following the completion of the acquisition, the director now owns 7,519 shares of the company’s stock, valued at $148,349.87. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronald O. Perelman bought 120,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was acquired at an average price of $20.29 per share, for a total transaction of $2,434,800.00. Following the acquisition, the director now directly owns 7,519 shares in the company, valued at $152,560.51. The disclosure for this purchase can be found here. Insiders own 40.48% of the company’s stock.

Several institutional investors have recently bought and sold shares of SGMS. Bank of Montreal Can grew its stake in shares of Scientific Games by 195.5% during the fourth quarter. Bank of Montreal Can now owns 6,270 shares of the technology company’s stock worth $111,000 after buying an additional 4,148 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Scientific Games by 65.2% during the fourth quarter. Rhumbline Advisers now owns 166,175 shares of the technology company’s stock worth $2,971,000 after buying an additional 65,589 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Scientific Games by 2.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,632 shares of the technology company’s stock worth $387,000 after buying an additional 530 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Scientific Games by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 581,376 shares of the technology company’s stock worth $10,395,000 after buying an additional 7,569 shares during the last quarter. Finally, Texas Permanent School Fund grew its stake in shares of Scientific Games by 4.3% during the fourth quarter. Texas Permanent School Fund now owns 36,007 shares of the technology company’s stock worth $644,000 after buying an additional 1,492 shares during the last quarter. Hedge funds and other institutional investors own 65.21% of the company’s stock.

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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