Castleark Management LLC Trims Stake in Scientific Games Corp (SGMS)

Castleark Management LLC trimmed its stake in shares of Scientific Games Corp (NASDAQ:SGMS) by 16.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 336,095 shares of the technology company’s stock after selling 68,220 shares during the period. Castleark Management LLC owned approximately 0.38% of Scientific Games Corp worth $8,772,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Scientific Games Corp by 157,167.7% during the first quarter. BlackRock Inc. now owns 6,120,858 shares of the technology company’s stock worth $144,758,000 after purchasing an additional 6,116,966 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Scientific Games Corp by 1.9% during the first quarter. Municipal Employees Retirement System of Michigan now owns 11,600 shares of the technology company’s stock worth $274,000 after purchasing an additional 220 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of Scientific Games Corp by 57.7% during the second quarter. Federated Investors Inc. PA now owns 185,603 shares of the technology company’s stock worth $4,844,000 after purchasing an additional 67,902 shares in the last quarter. Sylebra HK Co Ltd lifted its position in shares of Scientific Games Corp by 0.4% during the second quarter. Sylebra HK Co Ltd now owns 8,619,044 shares of the technology company’s stock worth $224,957,000 after purchasing an additional 36,275 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in shares of Scientific Games Corp during the first quarter worth approximately $215,000. Institutional investors own 62.77% of the company’s stock.

In related news, EVP James C. Kennedy sold 122,681 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $37.14, for a total transaction of $4,556,372.34. Following the transaction, the executive vice president now owns 186,363 shares in the company, valued at approximately $6,921,521.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Gavin Isaacs sold 68,036 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $38.85, for a total transaction of $2,643,198.60. Following the transaction, 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. Insiders have sold a total of 192,850 shares of company stock worth $7,281,691 in the last quarter. 42.03% of the stock is owned by corporate insiders.

Scientific Games Corp (SGMS) traded down 0.89% during midday trading on Friday, reaching $44.70. 73,135 shares of the company’s stock traded hands. Scientific Games Corp has a 1-year low of $10.90 and a 1-year high of $48.05. The firm’s market cap is $4.00 billion. The stock’s 50 day moving average price is $40.87 and its 200 day moving average price is $30.20.

Scientific Games Corp (NASDAQ:SGMS) last released its earnings results on Monday, July 24th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.08. The company had revenue of $766.30 million for the quarter, compared to analyst estimates of $732.93 million. During the same quarter in the previous year, the firm earned ($0.59) EPS. The firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Scientific Games Corp will post ($2.24) EPS for the current year.

Several equities analysts recently weighed in on the stock. BidaskClub lowered shares of Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Stifel Nicolaus restated a “hold” rating and issued a $24.00 price objective on shares of Scientific Games Corp in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Scientific Games Corp from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Thursday, July 20th. Bank of America Corporation restated a “buy” rating and issued a $50.00 price objective (up from $38.00) on shares of Scientific Games Corp in a report on Wednesday, September 20th. Finally, Craig Hallum restated a “buy” rating and issued a $56.00 price objective (up from $45.00) on shares of Scientific Games Corp in a report on Thursday, October 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $42.20.

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Scientific Games Corp 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 Corp (NASDAQ:SGMS)

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