Alliancebernstein L.P. cut its holdings in Scientific Games Co. (NASDAQ:SGMS) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,121,467 shares of the technology company’s stock after selling 215,754 shares during the period. Alliancebernstein L.P. owned 2.20% of Scientific Games worth $176,230,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SGMS. BlackRock Inc. increased its position in shares of Scientific Games by 18.6% during the 3rd quarter. BlackRock Inc. now owns 9,471,719 shares of the technology company’s stock valued at $786,815,000 after purchasing an additional 1,487,919 shares during the last quarter. Vanguard Group Inc. grew its position in Scientific Games by 14.0% in the 2nd quarter. Vanguard Group Inc. now owns 8,291,511 shares of the technology company’s stock valued at $642,094,000 after acquiring an additional 1,020,846 shares during the last quarter. Simcoe Capital Management LLC bought a new position in Scientific Games in the 2nd quarter valued at $58,040,000. ING Groep NV lifted its holdings in shares of Scientific Games by 60.0% in the 3rd quarter. ING Groep NV now owns 1,920,000 shares of the technology company’s stock worth $159,494,000 after buying an additional 720,000 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Scientific Games by 448.2% in the 2nd quarter. Invesco Ltd. now owns 879,973 shares of the technology company’s stock worth $68,145,000 after buying an additional 719,453 shares during the period. 93.71% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Stifel Nicolaus lowered Scientific Games from a “buy” rating to a “hold” rating and increased their price objective for the company from $84.00 to $90.00 in a report on Wednesday, November 3rd. Truist Securities dropped their target price on Scientific Games from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday. Credit Suisse Group raised their price objective on Scientific Games from $39.00 to $45.00 and gave the company an “underperform” rating in a report on Wednesday, November 10th. Berenberg Bank began coverage on Scientific Games in a research report on Tuesday, October 19th. They set a “buy” rating and a $98.00 price objective on the stock. Finally, Craig Hallum raised their target price on Scientific Games from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, September 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $81.50.
Scientific Games (NASDAQ:SGMS) last released its earnings results on Tuesday, November 9th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.51. Scientific Games had a negative return on equity of 5.54% and a net margin of 6.39%. The company had revenue of $539.00 million for the quarter, compared to analysts’ expectations of $759.57 million. Analysts predict that Scientific Games Co. will post 2.95 earnings per share for the current fiscal year.
Scientific Games Profile
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.
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