Institutional Move: Scientific Games Corp (SGMS) Shareholder Fine Capital Partners LP Has Decreased Its Position by $8.00 Million as Share Price Rose

Institutional Move: Scientific Games Corp (SGMS) Shareholder Fine Capital Partners LP Has Decreased Its Position by $8.00 Million as Share Price Rose

Debra Fine decreased its stake in Scientific Games Corp (SGMS) by 8.86% based on its latest 2016Q3 regulatory filing with the SEC. Fine Capital Partners Lp sold 727,500 shares as the company’s stock rose 19.26% with the market. The hedge fund run by Debra Fine held 7.49 million shares of the edp services company at the end of 2016Q3, valued at $84.36M, down from 8.21 million at the end of the previous reported quarter. Fine Capital Partners Lp who had been investing in Scientific Games Corp for a number of months, seems to be less bullish one the $1.40 billion market cap company. The stock is down 3.14% or $0.5 after the negative news, hitting $15.45 per share. About 151,048 shares traded hands. Scientific Games Corp (NASDAQ:SGMS) has risen 54.70% since June 7, 2016 and is uptrending. It has outperformed by 47.28% the S&P500.

Fine Capital Partners Lp, which manages about $1.72 billion and $975.03M US Long portfolio, upped its stake in Synergy Res Corp (NYSEMKT:SYRG) by 3.23 million shares to 9.37 million shares, valued at $64.97 million in 2016Q3, according to the filing. It also increased its holding in Shutterfly Inc (NASDAQ:SFLY) by 345,322 shares in the quarter, for a total of 1.78M shares, and has risen its stake in Evertec Inc (NYSE:EVTC).

Debra Fine, manager of Fine Capital Partners uses long and short tactics when working to maintain investments. Fine Capital Partners Lp is a New York-based hedge fund that was founded by Debra Fine. It had more than $1.72 billion assets under management in March, 2014. Taken from Fine Capital Partners latest Adv, the fund reported to have 7 full and part-time employees. Among which 5 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

Insitutional Activity: The institutional sentiment increased to 1.96 in Q3 2016. Its up 1.09, from 0.87 in 2016Q2. The ratio is positive, as 23 funds sold all SGMS shares owned while 23 reduced positions. 30 funds bought stakes while 60 increased positions. They now own 52.20 million shares or 2.79% more from 50.79 million shares in 2016Q2. Renaissance Llc owns 274,300 shares or 0.01% of their US portfolio. Federated Inc Pa reported 43,864 shares or 0% of all its holdings. Summit Ltd holds 0.04% of its portfolio in Scientific Games Corp (NASDAQ:SGMS) for 10,236 shares. Penn has invested 0.61% of its portfolio in Scientific Games Corp (NASDAQ:SGMS). Bluefin Trading Ltd Limited Liability Company holds 0% of its portfolio in Scientific Games Corp (NASDAQ:SGMS) for 7,699 shares. Tiaa Cref Inv Mgmt Limited Liability Com holds 0% or 160,039 shares in its portfolio. Ionic Capital Ltd Limited Liability Company holds 0% of its portfolio in Scientific Games Corp (NASDAQ:SGMS) for 2,000 shares. Gabelli Funds Limited Company last reported 384,000 shares in the company. Tci Wealth Advsrs last reported 0% of its portfolio in the stock. Jacobs Levy Equity Inc accumulated 447,100 shares or 0.09% of the stock. Blackrock Advisors Limited Liability Corporation reported 101,149 shares or 0% of all its holdings. The New York-based Pinebridge Invests LP has invested 0% in Scientific Games Corp (NASDAQ:SGMS). Park West Asset Mngmt Ltd Com holds 0.26% of its portfolio in Scientific Games Corp (NASDAQ:SGMS) for 250,000 shares. Sector Pension Inv Board has invested 0% of its portfolio in Scientific Games Corp (NASDAQ:SGMS). Point72 Asia (Hong Kong), a Hong Kong-based fund reported 3,400 shares.

Insider Transactions: Since September 16, 2016, the stock had 0 insider buys, and 3 sales for $3.43 million net activity. Kennedy David L also sold $1.69 million worth of Scientific Games Corp (NASDAQ:SGMS) on Monday, December 5.

Analysts await Scientific Games Corp (NASDAQ:SGMS) to report earnings on February, 23. They expect $-0.86 earnings per share, down 79.17% or $0.38 from last year’s $-0.48 per share. After $-1.13 actual earnings per share reported by Scientific Games Corp for the previous quarter, Wall Street now forecasts -23.89% EPS growth.

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 Bloomberg.com with their article: “Scientific Games Replaces CEO With ‘Cult’ Status, Shares Plunge” published on August 05, 2016, Prnewswire.com published: “Scientific Games Selected To Provide Expansive Casino Systems Solutions to New …” on August 01, 2016. More interesting news about Scientific Games Corp (NASDAQ:SGMS) were released by: Fool.com and their article: “Why Scientific Games Corp’s Shares Dropped 23% in August” published on September 06, 2016 as well as Prnewswire.com‘s news article titled: “Scientific Games Purchases Karma Gaming’s Portfolio of Interactive Games” with publication date: October 05, 2016.

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.”

Scientific Games Corp (NASDAQ:SGMS) Ratings Coverage

Out of 8 analysts covering Scientific Games Corp (NASDAQ:SGMS), 2 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 25% are positive. Scientific Games Corp has been the topic of 16 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Telsey Advisory Group maintained it with “Market Perform” rating and $8 target price in Friday, February 26 report. The firm has “Market Perform” rating by Telsey Advisory Group given on Friday, May 6. The company was downgraded on Tuesday, January 12 by Bank of America. The firm earned “Buy” rating on Tuesday, August 18 by Sterne Agee CRT. The rating was maintained by Deutsche Bank with “Sell” on Wednesday, August 5. The company was maintained on Friday, September 25 by JP Morgan. The stock of Scientific Games Corp (NASDAQ:SGMS) earned “Buy” rating by Sterne Agee CRT on Monday, September 21. The firm has “Hold” rating by Deutsche Bank given on Tuesday, September 1. The stock has “Neutral” rating given by Janney Capital on Monday, August 24. Goldman Sachs initiated the stock with “Sell” rating in Wednesday, August 19 report.

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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