Scientific Games Corp. (SGMS) Sees Large Volume Increase
Scientific Games Corp. (NASDAQ:SGMS) shares saw unusually-high trading volume on Wednesday . Approximately 670,752 shares traded hands during mid-day trading, an increase of 3% from the previous session’s volume of 652,736 shares.The stock last traded at $10.09 and had previously closed at $10.07.
SGMS has been the topic of several recent research reports. Zacks Investment Research raised Scientific Games Corp. from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research note on Wednesday, April 27th. Goldman Sachs Group Inc. reissued a “sell” rating and issued a $5.70 price target (up previously from $5.00) on shares of Scientific Games Corp. in a research note on Thursday, May 26th. Bank of America Corp. reissued a “sell” rating and issued a $6.00 price target on shares of Scientific Games Corp. in a research note on Friday, May 6th. Telsey Advisory Group dropped their price target on Scientific Games Corp. from $10.00 to $8.00 and set a “market perform” rating on the stock in a research note on Friday, May 6th. Finally, Sterne Agee CRT reissued a “buy” rating and issued a $13.50 price target (down previously from $15.50) on shares of Scientific Games Corp. in a research note on Friday, May 6th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Scientific Games Corp. presently has a consensus rating of “Hold” and an average price target of $11.29.
The firm’s market capitalization is $875.38 million. The company has a 50-day moving average price of $9.62 and a 200-day moving average price of $8.59.
Scientific Games Corp. (NASDAQ:SGMS) last released its quarterly earnings data on Thursday, May 5th. The company reported ($1.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by $0.10. During the same period in the previous year, the business posted ($1.01) earnings per share. The company had revenue of $682 million for the quarter, compared to the consensus estimate of $693.88 million. On average, equities analysts forecast that Scientific Games Corp. will post ($3.29) EPS for the current fiscal year.
A number of hedge funds and institutional investors have added to or reduced their stakes in SGMS. Russell Frank Co increased its position in Scientific Games Corp. by 33.1% in the fourth quarter. Russell Frank Co now owns 220,195 shares of the company’s stock valued at $1,956,000 after buying an additional 54,706 shares during the period. Gabelli Funds LLC increased its position in shares of Scientific Games Corp. by 5.3% in the fourth quarter. Gabelli Funds LLC now owns 345,000 shares of the company’s stock valued at $3,095,000 after buying an additional 17,500 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Scientific Games Corp. by 32.6% in the fourth quarter. Morgan Stanley now owns 1,224,805 shares of the company’s stock valued at $10,987,000 after buying an additional 300,998 shares during the last quarter.
Scientific Games Corporation is a developer of technology-based products and services, and associated content for the gaming, lottery and interactive gaming industries. The Company operates through three segments: Gaming, Lottery and Interactive. The Company’s 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.
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