Scientific Games Corp. (SGMS) Sees Large Volume Increase
Scientific Games Corp. (NASDAQ:SGMS) saw strong trading volume on Tuesday . 818,276 shares traded hands during trading, an increase of 23% from the previous session’s volume of 665,210 shares.The stock last traded at $11.16 and had previously closed at $10.61.
Several analysts have recently issued reports on the company. Deutsche Bank AG restated a “hold” rating and issued a $7.00 price objective on shares of Scientific Games Corp. in a research report on Sunday, June 26th. Sterne Agee CRT restated a “buy” rating and issued a $13.50 price objective (down from $15.50) on shares of Scientific Games Corp. in a research report on Friday, May 6th. Telsey Advisory Group reduced their price objective on Scientific Games Corp. from $10.00 to $8.00 and set a “market perform” rating on the stock in a research report on Friday, May 6th. Zacks Investment Research downgraded Scientific Games Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Bank of America Corp. restated a “sell” rating and issued a $6.00 price objective on shares of Scientific Games Corp. in a research report on Friday, May 6th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $11.29.
The stock’s market capitalization is $974.10 million. The company has a 50 day moving average of $9.67 and a 200 day moving average of $8.66.
Scientific Games Corp. (NASDAQ:SGMS) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by $0.10. During the same quarter in the previous year, the business posted ($1.01) EPS. The firm earned $682 million during the quarter, compared to the consensus estimate of $693.88 million. Equities research analysts anticipate that Scientific Games Corp. will post ($3.29) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of SGMS. Gabelli Funds LLC boosted 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 period. Russell Frank Co boosted its position in shares of 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. Finally, Morgan Stanley boosted 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 period.
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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