Alambic Investment Management L.P. reduced its stake in shares of Scientific Games Co. (NASDAQ:SGMS) by 47.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,875 shares of the technology company’s stock after selling 52,337 shares during the period. Alambic Investment Management L.P. owned 0.06% of Scientific Games worth $2,408,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System lifted its holdings in Scientific Games by 224.8% in the 4th quarter. Arizona State Retirement System now owns 88,892 shares of the technology company’s stock worth $4,560,000 after purchasing an additional 61,525 shares in the last quarter. Swiss National Bank lifted its holdings in Scientific Games by 2.6% in the 4th quarter. Swiss National Bank now owns 91,400 shares of the technology company’s stock worth $4,689,000 after purchasing an additional 2,300 shares in the last quarter. Hanseatic Management Services Inc. lifted its holdings in Scientific Games by 15.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 13,039 shares of the technology company’s stock worth $669,000 after purchasing an additional 1,727 shares in the last quarter. Pinebridge Investments L.P. lifted its holdings in Scientific Games by 182.5% in the 4th quarter. Pinebridge Investments L.P. now owns 18,496 shares of the technology company’s stock worth $949,000 after purchasing an additional 11,949 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Scientific Games by 4.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 263,960 shares of the technology company’s stock worth $13,542,000 after purchasing an additional 11,141 shares in the last quarter. 65.98% of the stock is currently owned by institutional investors.
SGMS has been the topic of a number of research analyst reports. Zacks Investment Research cut Scientific Games from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. BidaskClub cut Scientific Games from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Stifel Nicolaus reissued a “hold” rating and issued a $55.00 price target on shares of Scientific Games in a report on Friday, February 2nd. Jefferies Group assumed coverage on Scientific Games in a report on Tuesday, February 20th. They issued a “buy” rating and a $57.00 price target on the stock. Finally, Bank of America reduced their price objective on Scientific Games from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, March 2nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Scientific Games currently has an average rating of “Buy” and a consensus price target of $56.67.
NASDAQ:SGMS opened at $59.70 on Friday. The company has a debt-to-equity ratio of -4.00, a quick ratio of 1.43 and a current ratio of 1.73. Scientific Games Co. has a 1 year low of $58.55 and a 1 year high of $59.80. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of -26.77 and a beta of 2.53.
Scientific Games (NASDAQ:SGMS) last released its quarterly earnings data on Thursday, May 3rd. The technology company reported ($1.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.91). The business had revenue of $812.00 million during the quarter, compared to analyst estimates of $792.62 million. During the same quarter last year, the firm posted ($1.14) earnings per share. Scientific Games’s revenue was up 12.0% on a year-over-year basis. equities analysts expect that Scientific Games Co. will post -0.82 earnings per share for the current fiscal year.
In other news, Director Richard M. Haddrill sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $52.06, for a total transaction of $2,082,400.00. Following the transaction, the director now owns 282,038 shares of the company’s stock, valued at approximately $14,682,898.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Gavin Isaacs sold 140,614 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $51.01, for a total value of $7,172,720.14. Following the transaction, the director now directly owns 126,937 shares in the company, valued at approximately $6,475,056.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 322,412 shares of company stock worth $15,578,145. Corporate insiders own 40.61% of the company’s stock.
About Scientific Games
Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and interactive gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals (VLTs), 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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