Geode Capital Management LLC Boosts Position in Scientific Games Corp (SGMS)

Patrice Gainsbourg
Agosto 17, 2017

Shares of Scientific Games Corp (NASDAQ:SGMS) traded down 1.27% during midday trading on Tuesday, hitting $35.00. They now have $30.00 price target on the technology company's stock.

SGMS has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Scientific Games Corp from a "buy" rating to a "hold" rating in a report on Monday, July 31st. BidaskClub raised Scientific Games Corp from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 10th.

"We believe Scientific Games could be heading towards a credit ratings upgrade sooner than later, which would be another catalyst for the equity and set the stage for further capital structure improvements", he added. Telsey Advisory Group increased their price objective on shares of Scientific Games Corp from $20.00 to $24.00 and gave the company a "market perform" rating in a research note on Friday, April 28th. Out of 2 Wall Street analysts rating Scientific Games, 1 give it "Buy", 0 "Sell" rating, while 1 recommend "Hold".

Scientific Games Corporation (SGMS) stock marked a gap of -9.68% off its 52 week- peak price value and pointed turn of 339.28% from its 52 week-bottom price value. The stock's market cap is $3.14 billion. The firm has a 50-day moving average price of $30.96 and a 200-day moving average price of $24.56. Of all equities tracked, Scientific Games Corp had the 14th highest net in-flow for the day.

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Morgan Stanley lowered its position in Scientific Games Corp (NASDAQ:SGMS) by 83.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The technology company reported ($0.44) earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of ($0.52) by $0.08. The company had revenue of $766.30 million during the quarter, compared to analyst estimates of $732.93 million. During the same quarter in the previous year, the firm posted ($0.59) earnings per share. On average, equities analysts expect that Scientific Games Corp will post ($2.27) EPS for the current fiscal year.

In other news, Director Michael Gavin Isaacs sold 68,036 shares of the business's stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $38.85, for a total value of $2,643,198.60. It opened the session with a $35.45 price tag, later ranging from $34.8501 to $35.45, the range at which the stock has traded at throughout the day. Following the completion of the sale, the director now owns 110,815 shares in the company, valued at approximately $4,305,162.75. The disclosure for this sale can be found here. Following the transaction, the executive vice president now owns 186,363 shares of the company's stock, valued at $6,921,521.82. Oppenheimer Asset Management Inc. bought a new position in Scientific Games Corp during the first quarter valued at about $120,000. Insiders have sold a total of 192,850 shares of company stock valued at $7,281,691 in the last quarter. State of Alaska Department of Revenue raised its stake in Scientific Games Corp by 2.7% in the first quarter. Finally, Bayesian Capital Management LP purchased a new stake in Scientific Games Corp during the second quarter valued at about $209,000. Renaissance Technologies LLC now owns 1,538,848 shares of the technology company's stock valued at $40,164,000 after buying an additional 928,800 shares during the period. Renaissance Technologies LLC raised its position in Scientific Games Corp by 152.3% in the second quarter. Finally, FMR LLC purchased a new position in Scientific Games Corp during the second quarter valued at approximately $15,284,000. Arizona State Retirement System now owns 26,867 shares of the technology company's stock valued at $701,000 after buying an additional 200 shares during the last quarter. If you are reading this article on another website, it was stolen and reposted in violation of USA and global copyright & trademark legislation.

Scientific Games Corporation is a developer of technology-based products and services and associated content for the gaming, lottery and interactive gaming industries.

A provider of technologies and services for casinos, lotteries and digital games, the company has seen its shares skyrocket 150% this year, and almost 300% over the past 12 months. The Company's portfolio includes gaming machines and game content, casino management systems, table game services and products, instant and draw lottery games, server gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions.

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