Scientific Games Corp. (SGMS) Sees Large Volume Increase
Shares of Scientific Games Corp. (NASDAQ:SGMS) saw unusually-strong 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.
A number of equities research analysts recently issued reports on SGMS shares. Telsey Advisory Group decreased their price objective on shares of Scientific Games Corp. from $10.00 to $8.00 and set a “market perform” rating for the company in a report on Friday, May 6th. Bank of America Corp. reiterated a “sell” rating and issued a $6.00 price objective on shares of Scientific Games Corp. in a report on Friday, May 6th. Goldman Sachs Group Inc. restated a “sell” rating and set a $5.70 price target (up from $5.00) on shares of Scientific Games Corp. in a report on Thursday, May 26th. Zacks Investment Research cut shares of Scientific Games Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Finally, Sterne Agee CRT restated a “buy” rating and set a $13.50 price target (down from $15.50) on shares of Scientific Games Corp. in a 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.29.
The firm’s market capitalization is $884.99 million. The stock has a 50-day moving average of $9.62 and a 200-day moving average of $8.60.
Scientific Games Corp. (NASDAQ:SGMS) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by $0.10. During the same period in the previous year, the business posted ($1.01) earnings per share. The firm had revenue of $682 million for the quarter, compared to the consensus estimate of $693.88 million. On average, equities research analysts expect that Scientific Games Corp. will post ($3.29) EPS for the current fiscal year.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Russell Frank Co increased 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 worth $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 worth $3,095,000 after buying an additional 17,500 shares during the period. 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 worth $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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