State of Tennessee Treasury Department lowered its stake in Scientific Games Corp (NASDAQ:SGMS) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,583 shares of the technology company’s stock after selling 1,480 shares during the quarter. State of Tennessee Treasury Department’s holdings in Scientific Games were worth $318,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of Scientific Games by 69.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,611 shares of the technology company’s stock valued at $25,000 after acquiring an additional 658 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in Scientific Games in the 1st quarter valued at $36,000. Strs Ohio purchased a new position in Scientific Games during the 2nd quarter worth $75,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Scientific Games by 58.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,165 shares of the technology company’s stock worth $80,000 after acquiring an additional 1,909 shares in the last quarter. Finally, Bogle Investment Management L P DE purchased a new stake in shares of Scientific Games in the first quarter valued at about $123,000. Institutional investors own 59.49% of the company’s stock.
SGMS has been the subject of a number of recent analyst reports. SunTrust Banks upped their price objective on shares of Scientific Games from $15.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Craig Hallum reissued a “buy” rating on shares of Scientific Games in a research report on Friday, June 12th. Deutsche Bank lifted their target price on shares of Scientific Games from $8.00 to $16.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. ValuEngine cut shares of Scientific Games from a “buy” rating to a “hold” rating in a research report on Tuesday, September 1st. Finally, Zacks Investment Research raised shares of Scientific Games from a “strong sell” rating to a “hold” rating and set a $13.00 target price on the stock in a research report on Tuesday, June 16th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Scientific Games currently has a consensus rating of “Hold” and an average target price of $27.00.
NASDAQ:SGMS opened at $30.31 on Wednesday. The stock has a market capitalization of $2.87 billion, a PE ratio of -7.30 and a beta of 2.44. The firm’s 50 day moving average is $19.85 and its 200 day moving average is $14.86. Scientific Games Corp has a 12 month low of $3.76 and a 12 month high of $31.63.
Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported ($1.79) EPS for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.12. The company had revenue of $539.00 million for the quarter, compared to analysts’ expectations of $462.99 million. Scientific Games had a negative net margin of 13.11% and a negative return on equity of 0.53%. As a group, sell-side analysts anticipate that Scientific Games Corp will post -3.41 EPS for the current year.
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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