SciPlay Co. (NASDAQ: SCPL – Get a rating) was the target of a surge in short-term interest in September. As of September 15, there was short interest totaling 365,600 shares, an increase of 72.6% from the total of 211,800 shares as of August 31. Approximately 1.6% of the company’s shares are sold short. Based on an average daily volume of 213,000 shares, the day-to-cover ratio is currently 1.7 days.
SciPlay Stock up to 4.1%
Shares of SCPL rose $0.45 on Wednesday, hitting $11.45. The company had a trading volume of 166,649 shares, compared to an average volume of 342,092. SciPlay has a 12-month low of $10.60 and a 12-month high of $22.29. The company has a 50-day moving average price of $12.26 and a 200-day moving average price of $12.95. The company has a market capitalization of $1.47 billion, a P/E ratio of 15.47 and a beta of 0.26.
SciPlay (NASDAQ:SCPL – Get a rating) last announced its quarterly results on Tuesday, August 9. The company reported earnings per share of $0.23 for the quarter, beating the consensus estimate of $0.22 by $0.01. SciPlay had a return on equity of 6.91% and a net margin of 2.94%. The company posted revenue of $160.10 million in the quarter, compared to analyst estimates of $163.62 million. Equity research analysts expect SciPlay to post 0.95 EPS for the current year.
Institutional investors weigh in on SciPlay
Several large investors have recently bought and sold shares of SCPL. Engine Capital Management LP acquired a new stake in SciPlay during Q4 for a value of approximately $24,938,000. Caledonia Private Investments Pty Ltd acquired a new stake in SciPlay during Q4 valued at approximately $21,478,000. Ruffer LLP purchased a new equity stake in SciPlay in the second quarter worth approximately $13,722,000. TIG Advisors LLC increased its position in SciPlay shares by 157.0% in the first quarter. TIG Advisors LLC now owns 1,319,290 shares of the company valued at $17,045,000 after purchasing an additional 805,940 shares in the last quarter. Finally, Anqa Management LLC purchased a new equity stake in SciPlay in the first quarter worth approximately $7,035,000. 17.66% of the shares are currently held by hedge funds and other institutional investors.
A Wall Street analyst gives his opinion
Several research analysts have recently commented on SCPL shares. TheStreet downgraded SciPlay’s shares from a “b-” to a “c+” rating in a Tuesday, September 13 research note. Wedbush upgraded SciPlay shares from a ‘neutral’ to an ‘outperforming’ rating and raised its price target for the stock from $14.50 to $17.00 in a Friday 10 research note. June. Morgan Stanley cut its price target on SciPlay shares from $13.50 to $12.50 and set an “equal weight” rating for the company in a Wednesday, Sept. 7 research note. Bank of America reiterated an “underperforming” rating and set a $10.00 price target on SciPlay shares in a Tuesday, August 23 research note. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on SciPlay shares from $17.00 to $16.00 in a Monday, August 8 research note. One equity research analyst gave the stock a sell rating, two issued a hold rating and five gave the company a buy rating. According to data from MarketBeat, SciPlay currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.78.
SciPlay Company Profile
SciPlay Corporation develops, markets and operates a portfolio of social games for mobile and web platforms in North America and internationally. It offers social casino games, such as Jackpot Party Casino, Gold Fish Casino, Quick Hit Slots, 88 Fortunes Slots, MONOPOLY Slots and Hot Shot Casino, as well as casual games including Bingo Showdown, Solitaire Pets Adventure and Backgammon Live.
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