Scientific Games (NASDAQ:SGMS) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, BidAskClub reports.

Separately, ValuEngine raised Scientific Games from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $26.17.

Shares of NASDAQ:SGMS traded up $0.60 during trading on Wednesday, hitting $23.93. The company had a trading volume of 56,465 shares, compared to its average volume of 912,558. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -43.46 and a beta of 2.19. Scientific Games has a one year low of $14.79 and a one year high of $29.95. The company has a fifty day simple moving average of $18.77 and a two-hundred day simple moving average of $20.74.

Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.11). Scientific Games had a negative return on equity of 0.52% and a negative net margin of 7.25%. The business had revenue of $845.00 million for the quarter, compared to the consensus estimate of $859.67 million. As a group, research analysts anticipate that Scientific Games will post -0.92 EPS for the current year.

In other news, Director Ronald O. Perelman acquired 110,000 shares of Scientific Games stock in a transaction on Monday, June 17th. The shares were bought at an average cost of $19.73 per share, for a total transaction of $2,170,300.00. Following the acquisition, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $148,349.87. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald O. Perelman acquired 120,000 shares of Scientific Games stock in a transaction on Wednesday, June 19th. The shares were purchased at an average price of $20.29 per share, for a total transaction of $2,434,800.00. Following the completion of the acquisition, the director now directly owns 7,519 shares in the company, valued at $152,560.51. The disclosure for this purchase can be found here. 40.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SGMS. Park West Asset Management LLC purchased a new position in Scientific Games during the 2nd quarter worth $29,973,000. Nuveen Asset Management LLC purchased a new position in Scientific Games during the 2nd quarter worth $17,576,000. Intrinsic Edge Capital Management LLC purchased a new position in Scientific Games during the 2nd quarter worth $14,619,000. BlackRock Inc. increased its holdings in Scientific Games by 8.1% during the 2nd quarter. BlackRock Inc. now owns 6,876,116 shares of the technology company’s stock worth $136,284,000 after purchasing an additional 515,519 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in Scientific Games by 752.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 475,765 shares of the technology company’s stock worth $9,430,000 after purchasing an additional 419,985 shares during the period. Institutional investors own 64.54% of the company’s stock.

Scientific Games Company Profile

Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and digital gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; slot, casino, and table-management systems; table products, including shufflers; and perpetual licenses to proprietary table games.

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Analyst Recommendations for Scientific Games (NASDAQ:SGMS)

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