Scientific Games Corp (SGMS) Debt Trading 1.1% Higher
An issue of Scientific Games Corp (NASDAQ:SGMS) debt rose 1.1% as a percentage of its face value during trading on Wednesday. The high-yield debt issue has a 6.25% coupon and will mature on September 1, 2020. The bonds in the issue are now trading at $101.63 and were trading at $101.50 last week. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.
Several equities research analysts have recently weighed in on SGMS shares. Zacks Investment Research raised Scientific Games Corp from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Tuesday, May 2nd. BidaskClub cut Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Stifel Nicolaus increased their price target on Scientific Games Corp from $24.00 to $35.00 and gave the company a “hold” rating in a research note on Tuesday, July 25th. ValuEngine raised Scientific Games Corp from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Telsey Advisory Group increased their price target on Scientific Games Corp from $20.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, April 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $30.00.
Shares of Scientific Games Corp (SGMS) traded down 0.28% during midday trading on Wednesday, hitting $35.00. The stock had a trading volume of 916,091 shares. The stock’s market cap is $3.13 billion. The firm’s 50-day moving average price is $29.23 and its 200-day moving average price is $23.50. Scientific Games Corp has a 1-year low of $8.07 and a 1-year high of $39.25.
Scientific Games Corp (NASDAQ:SGMS) last released its quarterly earnings results on Monday, July 24th. The technology company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08. The business had revenue of $766.30 million for the quarter, compared to the consensus estimate of $732.93 million. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.59) EPS. Analysts forecast that Scientific Games Corp will post ($2.27) earnings per share for the current year.
In other Scientific Games Corp news, Director Michael Gavin Isaacs sold 68,036 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $38.85, for a total transaction of $2,643,198.60. Following the transaction, the director now owns 110,815 shares in the company, valued at approximately $4,305,162.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James C. Kennedy sold 122,681 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $37.14, for a total value of $4,556,372.34. Following the transaction, the executive vice president now owns 186,363 shares in the company, valued at approximately $6,921,521.82. The disclosure for this sale can be found here. Insiders have sold a total of 192,850 shares of company stock worth $7,281,691 in the last quarter. Company insiders own 41.53% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SGMS. BlackRock Inc. increased its position in 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 worth $144,758,000 after buying an additional 6,116,966 shares during the period. 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 worth $139,918,000 after buying an additional 1,278,837 shares during the period. Renaissance Technologies LLC purchased a new position in Scientific Games Corp during the first quarter worth $14,428,000. Canada Pension Plan Investment Board purchased a new position in Scientific Games Corp during the first quarter worth $11,026,000. Finally, Dimensional Fund Advisors LP increased its position in Scientific Games Corp by 309.0% in the first quarter. Dimensional Fund Advisors LP now owns 577,388 shares of the technology company’s stock worth $13,655,000 after buying an additional 436,231 shares during the period. Hedge funds and other institutional investors own 60.42% of the company’s stock.
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About Scientific Games Corp
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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