16,430 Shares in Scientific Games Corp (SGMS) Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new position in shares of Scientific Games Corp (NASDAQ:SGMS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,430 shares of the technology company’s stock, valued at approximately $753,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hanseatic Management Services Inc. grew its stake in shares of Scientific Games by 0.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 54,440 shares of the technology company’s stock worth $1,421,000 after acquiring an additional 148 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Scientific Games by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 26,867 shares of the technology company’s stock worth $701,000 after acquiring an additional 200 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Scientific Games by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 21,000 shares of the technology company’s stock worth $548,000 after acquiring an additional 200 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Scientific Games by 0.3% in the 2nd quarter. Prudential Financial Inc. now owns 91,974 shares of the technology company’s stock worth $2,401,000 after acquiring an additional 234 shares in the last quarter. Finally, Profund Advisors LLC grew its stake in shares of Scientific Games by 5.8% in the 2nd quarter. Profund Advisors LLC now owns 10,073 shares of the technology company’s stock worth $263,000 after acquiring an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 63.97% of the company’s stock.

Scientific Games Corp (NASDAQ SGMS) opened at $50.85 on Friday. The company has a debt-to-equity ratio of -4.07, a current ratio of 1.83 and a quick ratio of 1.45. Scientific Games Corp has a 1 year low of $13.65 and a 1 year high of $54.95.

Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.22). The company had revenue of $768.90 million for the quarter, compared to the consensus estimate of $748.56 million. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.13) EPS. research analysts forecast that Scientific Games Corp will post -2.47 earnings per share for the current fiscal year.

Several analysts have recently issued reports on the stock. Bank of America reiterated a “buy” rating and issued a $50.00 target price (up previously from $38.00) on shares of Scientific Games in a research note on Wednesday, September 20th. Stifel Nicolaus increased their price target on shares of Scientific Games from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, September 18th. Finally, Craig Hallum restated a “buy” rating and set a $56.00 price target (up previously from $45.00) on shares of Scientific Games in a research report on Thursday, October 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $42.20.

In other Scientific Games news, Director Michael J. Regan sold 17,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $46.88, for a total transaction of $796,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James C. Kennedy sold 30,384 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $48.35, for a total transaction of $1,469,066.40. Following the transaction, the executive vice president now owns 105,029 shares of the company’s stock, valued at approximately $5,078,152.15. The disclosure for this sale can be found here. Insiders have sold 187,384 shares of company stock valued at $9,026,426 in the last quarter. Company insiders own 40.61% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “16,430 Shares in Scientific Games Corp (SGMS) Purchased by Convergence Investment Partners LLC” was reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international copyright law. The original version of this news story can be accessed at https://www.truebluetribune.com/2017/12/17/convergence-investment-partners-llc-buys-shares-of-16430-scientific-games-corp-sgms.html.

Scientific Games Company Profile

Scientific Games Corporation is a developer of technology-based products and services and associated content for the gaming, lottery and interactive gaming industries. Its segments include Gaming, Lottery and Interactive. Its portfolio includes gaming machines and game content, casino management systems, table game products and services, instant and draw-based lottery games, server-based gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions.

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

Receive News & Ratings for Scientific Games Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scientific Games and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply