The Manufacturers Life Insurance Company Grows Position in Scientific Games Corp (SGMS)
The Manufacturers Life Insurance Company boosted its holdings in Scientific Games Corp (NASDAQ:SGMS) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,638 shares of the technology company’s stock after purchasing an additional 1,227 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Scientific Games Corp were worth $1,113,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SGMS. BlackRock Inc. raised its position in Scientific Games Corp by 157,167.7% in the 1st quarter. BlackRock Inc. now owns 6,120,858 shares of the technology company’s stock valued at $144,758,000 after purchasing an additional 6,116,966 shares during the last quarter. Whale Rock Capital Management LLC purchased a new stake in Scientific Games Corp in the 2nd quarter valued at $36,929,000. Vanguard Group Inc. raised its position in Scientific Games Corp by 27.6% in the 1st quarter. Vanguard Group Inc. now owns 5,916,233 shares of the technology company’s stock valued at $139,918,000 after purchasing an additional 1,278,837 shares during the last quarter. Renaissance Technologies LLC raised its position in Scientific Games Corp by 152.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,538,848 shares of the technology company’s stock valued at $40,164,000 after purchasing an additional 928,800 shares during the last quarter. Finally, FMR LLC purchased a new stake in Scientific Games Corp in the 2nd quarter valued at $15,284,000. Hedge funds and other institutional investors own 62.72% of the company’s stock.
Scientific Games Corp (NASDAQ SGMS) opened at $47.05 on Monday. The company has a quick ratio of 1.45, a current ratio of 1.83 and a debt-to-equity ratio of -4.07. Scientific Games Corp has a 12-month low of $12.45 and a 12-month high of $49.70.
Scientific Games Corp (NASDAQ:SGMS) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.22). The business had revenue of $768.90 million for the quarter, compared to the consensus estimate of $748.56 million. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.13) EPS. equities analysts forecast that Scientific Games Corp will post -2.41 earnings per share for the current fiscal year.
In other news, Director David L. Kennedy sold 40,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $48.26, for a total value of $1,930,400.00. Following the completion of the transaction, the director now owns 63,551 shares in the company, valued at approximately $3,066,971.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James C. Kennedy sold 30,384 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $48.35, for a total transaction of $1,469,066.40. Following the completion of the transaction, the executive vice president now owns 105,029 shares of the company’s stock, valued at approximately $5,078,152.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,384 shares of company stock valued at $8,229,466. 40.61% of the stock is owned by insiders.
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SGMS has been the subject of several research reports. Zacks Investment Research upgraded shares of Scientific Games Corp from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Thursday, July 20th. Craig Hallum restated a “buy” rating and set a $56.00 price objective (up previously from $45.00) on shares of Scientific Games Corp in a research report on Thursday, October 5th. Bank of America Corporation restated a “buy” rating and set a $50.00 price objective (up previously from $38.00) on shares of Scientific Games Corp in a research report on Wednesday, September 20th. Finally, Stifel Nicolaus upped their price objective on shares of Scientific Games Corp from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, September 18th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $42.20.
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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