Scientific Games Corp (NASDAQ:SGMS) Bonds Trading 2% Higher
An issue of Scientific Games Corp (NASDAQ:SGMS) bonds rose 2% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 10% coupon and is set to mature on December 1, 2022. The debt is now trading at $111.75 and was trading at $110.00 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.
SGMS has been the topic of a number of research analyst reports. Telsey Advisory Group increased their target price on Scientific Games Corp from $20.00 to $24.00 and gave the stock a “market perform” rating in a report on Friday, April 28th. Stifel Nicolaus raised their price target on Scientific Games Corp from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Zacks Investment Research raised Scientific Games Corp from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Tuesday, May 2nd. ValuEngine raised Scientific Games Corp from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub raised Scientific Games Corp from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Scientific Games Corp currently has an average rating of “Hold” and an average target price of $24.50.
Shares of Scientific Games Corp (SGMS) traded up 27.19% during mid-day trading on Monday, hitting $34.15. The company had a trading volume of 8,071,028 shares. The firm’s 50 day moving average is $26.06 and its 200-day moving average is $22.23. The firm’s market cap is $3.03 billion. Scientific Games Corp has a 12-month low of $8.07 and a 12-month high of $35.20.
Scientific Games Corp (NASDAQ:SGMS) last released its quarterly earnings data on Monday, July 24th. The technology company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.07. The company had revenue of $766.30 million during the quarter, compared to the consensus estimate of $732.93 million. During the same quarter in the prior year, the company posted ($0.59) earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts expect that Scientific Games Corp will post ($2.38) EPS for the current year.
In other news, Director Michael Gavin Isaacs sold 154,951 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $22.81, for a total value of $3,534,432.31. Following the sale, the director now directly owns 110,542 shares in the company, valued at approximately $2,521,463.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 41.53% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Scientific Games Corp by 157,167.7% in the first quarter. BlackRock Inc. now owns 6,120,858 shares of the technology company’s stock valued at $144,758,000 after buying an additional 6,116,966 shares during the last quarter. Vanguard Group Inc. increased its position in Scientific Games Corp by 27.6% in the first quarter. Vanguard Group Inc. now owns 5,916,233 shares of the technology company’s stock valued at $139,918,000 after buying an additional 1,278,837 shares in the last quarter. State Street Corp increased its position in Scientific Games Corp by 5.6% in the first quarter. State Street Corp now owns 1,213,822 shares of the technology company’s stock valued at $28,705,000 after buying an additional 64,179 shares in the last quarter. Bank of New York Mellon Corp increased its position in Scientific Games Corp by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 621,125 shares of the technology company’s stock valued at $14,689,000 after buying an additional 16,369 shares in the last quarter. Finally, Bogle Investment Management L P DE increased its position in Scientific Games Corp by 101.8% in the first quarter. Bogle Investment Management L P DE now owns 610,609 shares of the technology company’s stock valued at $14,440,000 after buying an additional 308,032 shares in the last quarter. 61.38% of the stock is currently owned by institutional investors and hedge funds.
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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.
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