Price Action Report: Scientific Games Corp Just Reaches 52-Week High?

Price Action Report: Scientific Games Corp Just Reaches 52 Week High?

The stock of Scientific Games Corp (NASDAQ:SGMS) hit a new 52-week high and has $24.34 target or 69.00% above today’s $14.40 share price. The 9 months bullish chart indicates low risk for the $1.30 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $24.34 price target is reached, the company will be worth $897.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 188,625 shares traded hands. Scientific Games Corp (NASDAQ:SGMS) has risen 37.90% since April 19, 2016 and is uptrending. It has outperformed by 34.04% the S&P500.

Scientific Games Corp (NASDAQ:SGMS) Ratings Coverage

Out of 7 analysts covering Scientific Games Corp (NASDAQ:SGMS), 2 rate it a “Buy”, 2 “Sell”, while 3 “Hold”. This means 29% are positive. Scientific Games Corp has been the topic of 15 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm earned “Sell” rating on Wednesday, August 5 by Deutsche Bank. Bank of America downgraded the shares of SGMS in a report on Tuesday, January 12 to “Underperform” rating. Janney Capital maintained Scientific Games Corp (NASDAQ:SGMS) on Monday, August 24 with “Neutral” rating. The stock has “Market Perform” rating given by Telsey Advisory Group on Friday, February 26. The firm has “Buy” rating by Sterne Agee CRT given on Monday, September 21. The firm earned “Neutral” rating on Friday, September 25 by JP Morgan. The stock of Scientific Games Corp (NASDAQ:SGMS) earned “Hold” rating by Deutsche Bank on Tuesday, September 1. Telsey Advisory Group maintained it with “Market Perform” rating and $10 target price in Friday, May 6 report. Goldman Sachs initiated the shares of SGMS in a report on Wednesday, August 19 with “Sell” rating. The stock of Scientific Games Corp (NASDAQ:SGMS) earned “Buy” rating by Sterne Agee CRT on Tuesday, August 18.

According to Zacks Investment Research, “Scientific Games Corporation is the leading integrated supplier of instant tickets, systems and services to lotteries, and the leading supplier of wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut and the Netherlands and is a leading supplier of prepaid phone cards to telephone companies. Scientific Games’ customers are in the United States and more than 60 other countries.”

Insitutional Activity: The institutional sentiment increased to 1.96 in Q2 2016. Its up 1.09, from 0.87 in 2016Q1. The ratio improved, as 26 funds sold all Scientific Games Corp shares owned while 43 reduced positions. 19 funds bought stakes while 41 increased positions. They now own 50.79 million shares or 10.20% less from 56.56 million shares in 2016Q1.
Arizona State Retirement Sys reported 26,267 shares or 0% of all its holdings. Smithfield reported 900 shares or 0% of all its holdings. Bancshares Of New York Mellon Corp last reported 569,756 shares in the company. New York State Teachers Retirement Sys has 0% invested in the company for 128,994 shares. Blackrock Fund Advsrs last reported 0.01% of its portfolio in the stock. Bridgeway Management Inc owns 126,600 shares or 0.02% of their US portfolio. Hightower Ltd Com, a Illinois-based fund reported 10,000 shares. Texas Permanent School Fund last reported 38,742 shares in the company. Wingspan Invest Mngmt Lp holds 0.84% of its portfolio in Scientific Games Corp (NASDAQ:SGMS) for 136,653 shares. Alliancebernstein Limited Partnership holds 70,756 shares or 0% of its portfolio. D E Shaw has 2.10 million shares for 0.04% of their US portfolio. Barclays Public Ltd Com last reported 0% of its portfolio in the stock. Louisiana State Employees Retirement Sys accumulated 22,400 shares or 0.01% of the stock. Moreover, Principal Financial Group Inc Inc has 0% invested in Scientific Games Corp (NASDAQ:SGMS) for 356,549 shares. Boothbay Fund Mgmt Lc, a New York-based fund reported 70,046 shares.

Insider Transactions: Since September 16, 2016, the stock had 0 buys, and 1 insider sale for $1.05 million net activity. $1.05M worth of Scientific Games Corp (NASDAQ:SGMS) shares were sold by Kennedy David L.

More notable recent Scientific Games Corp (NASDAQ:SGMS) news were published by: Fool.com which released: “Scientific Games Corp Jumps As It Looks to Unlock Growth in Its Interactive …” on September 07, 2016, also Fool.com with their article: “Why Scientific Games Corp Stock Took a Hit” published on May 06, 2016, Fool.com published: “Why Scientific Games Corp’s Shares Dropped 23% in August” on September 06, 2016. More interesting news about Scientific Games Corp (NASDAQ:SGMS) were released by: Prnewswire.com and their article: “Scientific Games Selected To Provide Expansive Casino Systems Solutions to New …” published on August 01, 2016 as well as Fool.com‘s news article titled: “Scientific Games Corp Stock Falls After New CEO Is Announced” with publication date: August 05, 2016.

SGMS Company Profile

Scientific Games Corporation, incorporated on July 2, 1984, is a developer of technology‑based services and products, and associated content for the gaming, lottery and interactive gaming industries. The Firm operates through three divisions: Gaming, Lottery and Interactive. The Company’s portfolio includes gaming machines and game content, casino management systems, table game services and products, 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.

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