BidaskClub Lowers Scientific Games (NASDAQ:SGMS) to Sell

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BidaskClub downgraded shares of Scientific Games (NASDAQ:SGMS) from a hold rating to a sell rating in a report published on Friday, BidAskClub reports.

Several other brokerages also recently weighed in on SGMS. Telsey Advisory Group reissued an outperform rating and issued a $31.00 target price (down previously from $36.00) on shares of Scientific Games in a research note on Wednesday, May 8th. ValuEngine raised shares of Scientific Games from a sell rating to a hold rating in a research note on Thursday, August 1st. Finally, Deutsche Bank reduced their target price on shares of Scientific Games from $26.00 to $22.00 and set an in-line rating on the stock in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Scientific Games currently has a consensus rating of Hold and a consensus price target of $26.17.

Shares of SGMS opened at $16.71 on Friday. Scientific Games has a twelve month low of $14.79 and a twelve month high of $32.50. The company has a market cap of $1.51 billion, a P/E ratio of -30.94 and a beta of 2.21. The company’s fifty day simple moving average is $19.38 and its 200-day simple moving average is $21.64.

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

Hedge funds have recently bought and sold shares of the stock. Mason Street Advisors LLC increased its stake in Scientific Games by 2.1% in the 1st quarter. Mason Street Advisors LLC now owns 29,433 shares of the technology company’s stock worth $601,000 after buying an additional 612 shares during the period. BNP Paribas Arbitrage SA increased its stake in Scientific Games by 707.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,718 shares of the technology company’s stock worth $239,000 after buying an additional 10,266 shares during the period. Retirement Systems of Alabama increased its stake in Scientific Games by 1.0% in the 1st quarter. Retirement Systems of Alabama now owns 72,050 shares of the technology company’s stock worth $1,471,000 after buying an additional 714 shares during the period. Rhumbline Advisers increased its stake in Scientific Games by 2.2% in the 1st quarter. Rhumbline Advisers now owns 169,874 shares of the technology company’s stock worth $3,469,000 after buying an additional 3,699 shares during the period. Finally, Legal & General Group Plc increased its stake in Scientific Games by 1.9% in the 4th quarter. Legal & General Group Plc now owns 53,426 shares of the technology company’s stock worth $956,000 after buying an additional 1,017 shares during the period. 64.08% of the stock is currently owned by institutional investors.

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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