Alliancebernstein L.P. Has $176.23 Million Stake in Scientific Games Co. (NASDAQ:SGMS)

Alliancebernstein L.P. decreased its position in shares of Scientific Games Co. (NASDAQ:SGMS) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,121,467 shares of the technology company’s stock after selling 215,754 shares during the period. Alliancebernstein L.P.’s holdings in Scientific Games were worth $176,230,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SGMS. Principal Financial Group Inc. increased its holdings in shares of Scientific Games by 4.0% during the 2nd quarter. Principal Financial Group Inc. now owns 207,972 shares of the technology company’s stock worth $16,106,000 after purchasing an additional 7,929 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in shares of Scientific Games by 86.4% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,191 shares of the technology company’s stock worth $91,000 after purchasing an additional 552 shares during the period. Legal & General Group Plc increased its holdings in shares of Scientific Games by 8.1% during the 2nd quarter. Legal & General Group Plc now owns 110,791 shares of the technology company’s stock worth $8,580,000 after purchasing an additional 8,300 shares during the period. California State Teachers Retirement System increased its holdings in shares of Scientific Games by 53.9% during the 2nd quarter. California State Teachers Retirement System now owns 132,558 shares of the technology company’s stock worth $10,265,000 after purchasing an additional 46,405 shares during the period. Finally, Simcoe Capital Management LLC bought a new position in shares of Scientific Games during the 2nd quarter worth about $58,040,000. 93.71% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. Credit Suisse Group boosted their price objective on shares of Scientific Games from $39.00 to $45.00 and gave the stock an “underperform” rating in a report on Wednesday, November 10th. Stifel Nicolaus cut shares of Scientific Games from a “buy” rating to a “hold” rating and upped their target price for the company from $84.00 to $90.00 in a research note on Wednesday, November 3rd. Berenberg Bank initiated coverage on shares of Scientific Games in a research note on Tuesday, October 19th. They issued a “buy” rating and a $98.00 target price on the stock. Truist Securities lowered their target price on shares of Scientific Games from $110.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Craig Hallum upped their target price on shares of Scientific Games from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, September 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $81.50.

NASDAQ:SGMS opened at $61.30 on Friday. The firm has a market cap of $5.92 billion, a PE ratio of 33.50 and a beta of 1.93. Scientific Games Co. has a 12 month low of $36.89 and a 12 month high of $90.20. The company’s 50-day moving average price is $65.22 and its two-hundred day moving average price is $71.02.

Scientific Games (NASDAQ:SGMS) last released its quarterly earnings results on Tuesday, November 9th. The technology company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.51. The firm had revenue of $539.00 million for the quarter, compared to analyst estimates of $759.57 million. Scientific Games had a net margin of 6.39% and a negative return on equity of 5.54%. Analysts expect that Scientific Games Co. will post 2.95 earnings per share for the current fiscal year.

About Scientific Games

Scientific Games Corp. engages in the development of technology-based products and services and associated content. It operates through the following business segments: Gaming, Lottery, and SciPlay, and Digital. The Gaming segment designs, develops, manufactures, markets, and distributes a comprehensive portfolio of gaming products and services.

Further Reading: Hold Rating

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Institutional Ownership by Quarter for Scientific Games (NASDAQ:SGMS)

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