SciPlay Corporation (NASDAQ: SCPL) Seen Running Too Hot, Let’s Look At This More Closely

GLBE Stock
GLBE Stock

Columbia Management Investment Ad.. recently announced the acquisition of new stake in SciPlay Corporation (NASDAQ:SCPL). The institutional investor has increased its shareholding in the Communication Services company by 7.98% to 2.15 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 9.45% valued currently at $31.49 million. In addition, Nantahala Capital Management LLC raised its holdings by 0.36 million to 1.37 million shares. And Maple Rock Capital Partners, Inc. has lifted its position by 50.00% or 0.35 million shares – to 1.05 million shares.

With over 2.18 million SciPlay Corporation (SCPL) shares trading Tuesday and a closing price of $13.35 on the day, the dollar volume was approximately $29.13 million. The shares have shown a negative weekly performance of -0.07% and its price on 09/01/20 gained nearly 1.25%. Currently, there are 22.80M common shares owned by the public and among those 22.58M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for SCPL have a consensus price objective of $17.73. The analysts have set the share’s price value over the next 12 months at a high of $22.50 and a low of $12.30 should the stock experience a downside. Incidentally, analysts’ outlook for the SciPlay Corporation stock is 2.20 for the next 12 months. The average price target is 24.62% above its last price level and an upside to the estimated low will see the stock lose -8.54% over that period. But an upside of 40.67% will see the stock hit the forecast high price target while mean target price for the stock is $18.00.

Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 74,969 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 1,116,504 shares.

The top 3 mutual fund holders in SciPlay Corporation are Columbia Seligman Communications, Invesco Dynamic Software ETF, and John Hancock Small Cap Core Fund. Columbia Seligman Communications owns 1.19 million shares of the company’s stock, all valued at over $17.38 million. John Hancock Small Cap Core Fund bought 29859.0 shares to bring its total holdings to over 0.72 million shares at a value of $10.6 million. John Hancock Small Cap Core Fund now owns shares totaling to 3.18% of the shares outstanding.

Shares of SciPlay Corporation (NASDAQ: SCPL) opened at $13.10, down -$0.09 from a prior closing price of $13.19. However, the script later closed the day at $13.35, up 1.25%. The company’s stock has a 5-day price change of -0.07% and -5.45% over the past three months. SCPL shares are trading 8.62% year to date (YTD), with the 12-month market performance up to 46.22% higher. It has a 12-month low price of $5.82 and touched a high of $17.23 over the same period. Currently, 2.18 million shares have been traded, compared to an average intraday trading volume of 703.01K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.94%, -8.39%, and 11.10% respectively.

Institutional ownership of SciPlay Corporation (NASDAQ: SCPL) shares accounts for 98.50% of the company’s 22.80M shares outstanding. Mutual fund holders own 28.51%, while other institutional holders and individual stakeholders account for 64.54% and 12.38% respectively.

It has a market capitalization of $1.71B. The stock’s trailing 12-month PE ratio is 18.04, while the earnings-per-share (ttm) stands at $0.74. The company has a PEG of 1.10 and a Quick Ratio of 6.10 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.34% over the week and 5.99% over the month.

Analysts forecast that SciPlay Corporation (SCPL) will achieve an EPS of $0.24 for the current quarter, $0.23 for the next quarter and $0.97 for 2021. The lowest estimate earnings-per-share for the quarter is $0.19 while analysts give the company a high EPS estimate of $0.3. Comparatively, EPS for the current quarter was $0.2 a year ago. Earnings per share for the fiscal year are expected to increase by 362.60%, and 4.28% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate SciPlay Corporation (SCPL) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 3 of the 12 advise that investors “hold,” and 1 rated it as a “Sell.”

Looking at the support for the SCPL, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Sector Perform rating for the stock in a research note on June 10, 2020, with the firm’s price target at $13. BofA/Merrill coverage for the SciPlay Corporation (SCPL) stock in a research note released on April 22, 2020 offered a Neutral rating with a price target of $11.30. SunTrust was of a view on April 17, 2020 that the stock is Buy, while DA Davidson gave the stock Buy rating on January 22, 2020, issuing a price target of $15. SunTrust on their part issued Hold rating on January 07, 2020.


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