What happened Shares of Score Media and Gaming (SCR) soared on Thursday after the sports betting company said it agreed to be acquired by casino giant Penn National Gaming (PENN -4.51%). As of 2:30 p.m. EDT, theScore's stock price was up a stunning 82%.
Full Answer
Who bought SCR stock in the last quarter?
SCR stock was bought by a variety of institutional investors in the last quarter, including TIG Advisors LLC, Magnetar Financial LLC, Alpine Associates Management Inc., Balyasny Asset Management LLC, Balyasny Asset Management LLC, Glazer Capital LLC, Tudor Investment Corp Et Al, and Millennium Management LLC.
Why is SCR stock rising so fast?
The company is being absorbed into one of the largest casino and race-betting operators in the nation, and the acquisition brings it one degree closer to the increasingly present Barstool Media network. As a result of the news, SCR stock is rising rapidly.
How do I buy shares of SCR?
Shares of SCR and other Canadian stocks can be purchased through an online brokerage account.
Should you buy Score Media and gaming (SCRM) stock?
3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Score Media and Gaming in the last twelve months. There are currently 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" Score Media and Gaming stock.
What happens to SCR stock?
When the deal is completed, theScore stock will be delisted. Shareholders will be given the cash and Penn stock as planned. However, Penn stock has already jumped because of the announcement. It's now trading for US$72, which means 0.2398 is worth roughly CA$21.7 in cash.
How much did SCR sell for?
Shares of theScore close up 79% after Penn National announces plans to buy the company for $2 billion. Penn National's purchase of Toronto-based media company Score Media and Gaming allows the company to obtain in-house technology and grow its presence across North America.
Will SCR stock go up?
Based on analyst ratings, Score Media and Gaming's 12-month average price target is C$46.92. What is TSE:SCR's upside potential, based on the analysts' average price target? Score Media and Gaming has 6.39% upside potential, based on the analysts' average price target.
What happened to theScore stock?
Since March 2021, The Score is listed on Nasdaq, under the SCR ticker. In August 2021, Penn National Gaming agreed to acquire Score Media and Gaming Inc. for $2 billion in cash and stocks. The deal completed in October 2021 and the company was delisted from the Toronto Stock Exchange and the Nasdaq.
Will SCR stock become Penn?
Eligible Canadian shareholders of theScore will be able to elect to receive exchangeable shares in a Canadian subsidiary of Penn National, which will be exchangeable into Penn National shares, instead of the Penn National shares to which they would otherwise be entitled.
What happens when a stock is delisted Wealthsimple?
The delisting of stock means that the company is no longer trading on major exchanges. It's important to note, though, investors will not experience any losses as their holdings. They'll remain unchanged except for one thing.
Should I sell my SCR stocks?
The consensus among Wall Street analysts is that investors should "hold" Score Media and Gaming stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SCR, but not buy additional shares or sell existing shares.
Should I sell theScore stock?
A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.
Is theScore a good investment?
theScore stock is a buy Growth prospects are very good for 2021 and even better for 2022. Indeed, revenue growth of 71.7% and 79.1% are expected for 2021 and 2022, respectively. If we look at profits, they are expected to increase by 15.5% and 46.2%, respectively, for 2022.
Who owns theScore?
Penn National GamingScore Media and Gaming / Parent organizationPenn National Gaming, Inc. is an operator of casinos and racetracks based in Wyomissing, Pennsylvania. It operates 44 facilities in the United States and Canada, many of them under the Hollywood Casino brand. The company also owns a 36% stake in Barstool Sports. Wikipedia
How does theScore app make money?
The firm currently has a market capitalization of $1.3 billion. Its mobile app has roughly 3.9 million monthly users and delivers live scores, stats and news to users. TheScore makes money from sponsorship and digital ads and from the app, and launched its theScore Bet app for mobile wagers in 2019.
What is Tscrf?
Score Media & Gaming Inc (TSCRF)
Should I buy or sell Score Media and Gaming stock right now?
2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Score Media and Gaming in the last year. There are currently 2 hold rating...
What is Score Media and Gaming's stock price forecast for 2022?
2 analysts have issued 1 year price objectives for Score Media and Gaming's stock. Their forecasts range from $21.00 to $21.00. On average, they ex...
How were Score Media and Gaming's earnings last quarter?
Score Media and Gaming Inc. (NYSE:SCR) announced its quarterly earnings data on Monday, July, 12th. The healthcare company reported ($0.78) earning...
Who are Score Media and Gaming's key executives?
Score Media and Gaming's management team includes the following people: John S. Levy , Chairman & Chief Executive Officer Benjamin D. Levy , Pre...
Who are some of Score Media and Gaming's key competitors?
Some companies that are related to Score Media and Gaming include Malibu Boats (MBUU) , MasterCraft Boat (MCFT) , Marine Products (MPX) , Conra...
What other stocks do shareholders of Score Media and Gaming own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Score Media and Gaming investors own include Resideo Techn...
When did Score Media and Gaming IPO?
(SCR) raised $183 million in an IPO on Thursday, February 25th 2021. The company issued 5,000,000 shares at $36.52 per share. Morgan Stanley, Credi...
What is Score Media and Gaming's stock symbol?
Score Media and Gaming trades on the New York Stock Exchange (NYSE) under the ticker symbol "SCR."
What is Score Media and Gaming's stock price today?
One share of SCR stock can currently be purchased for approximately $35.58.
Should I buy or sell Score Media and Gaming stock right now?
3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Score Media and Gaming in the last year. There are curre...
What is Score Media and Gaming's stock price forecast for 2022?
3 analysts have issued 1-year price objectives for Score Media and Gaming's stock. Their forecasts range from C$38.00 to C$50.00. On average, they...
When did Score Media and Gaming's stock split? How did Score Media and Gaming's stock split work?
Score Media and Gaming's stock reverse split on Thursday, February 18th 2021. The 1-10 reverse split was announced on Friday, February 12th 2021. T...
Who are Score Media and Gaming's key executives?
Score Media and Gaming's management team includes the following people: Mr. John S. Levy , Founder, Chairman & CEO Mr. Benjamin David Levy , Pre...
Who are some of Score Media and Gaming's key competitors?
Some companies that are related to Score Media and Gaming include Codemasters Group (CDM) , Sumo Group (SUMO) , Team17 Group (TM17) , Devolver...
What is Score Media and Gaming's stock symbol?
Score Media and Gaming trades on the Toronto Stock Exchange (TSX) under the ticker symbol "SCR."
How do I buy shares of Score Media and Gaming?
Shares of SCR and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian...
How much money does Score Media and Gaming make?
Score Media and Gaming (TSE:SCR) has a market capitalization of C$0.00 and generates C$23.03 million in revenue each year.
How many employees does Score Media and Gaming have?
Score Media and Gaming employs 258 workers across the globe.
About Score Media and Gaming
Score Media & Gaming, Inc. engages in the development of mobile sports applications. Its media app theScore delivers personalized live scores, news, statistics, and betting information from teams, leagues, and players. The company's sports betting app theScore Bet delivers an immersive and holistic mobile sports betting experience.
Score Media and Gaming (NYSE:SCR) Frequently Asked Questions
3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Score Media and Gaming in the last year. There are currently 2 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" Score Media and Gaming stock.
About Score Media and Gaming
Score Media and Gaming Inc. operates as a sports media company in North America.
Headlines
Sports betting laws open up in Canada today. Who’s taking new types of bets?
Score Media and Gaming (TSE:SCR) Frequently Asked Questions
3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Score Media and Gaming in the last twelve months. There are currently 1 hold rating and 2 buy ratings for the stock.
Why SCR stock has fallen
On April 13, theScore stock fell more than 8 percent after hours. The decline followed the release of its earnings for the second quarter of fiscal 2021. The results disappointed investors and raised questions about SCR's stock forecast.
SCR's stock forecast
The lackluster earnings report has made investors more curious about theScore’s stock forecast. The company went into its earnings with the stock down more than 54 percent from its peak. Will the stock rebound or keep falling?
SCR is a good stock to buy
Right now, theScore’s long-term prospects look bright. Canada is in the process of legalizing single-event sports betting and Prime Minister Justin Trudeau supports it. Once legalized, Canada’s sports betting market could grow from $500 million now to $28 billion in five years.
Investors have 2 billion reasons to celebrate
Joe honed his investing skills as an analyst for Stock Advisor. He battle-tested his investment philosophy and strategies as portfolio manager of Tier 1, a market-crushing Motley Fool real-money portfolio that delivered 24.58% annualized returns.
What happened
Shares of Score Media and Gaming ( NASDAQ:SCR) soared on Thursday after the sports betting company said it agreed to be acquired by casino giant Penn National Gaming ( NASDAQ:PENN). As of 2:30 p.m. EDT, theScore's stock price was up a stunning 82%.
So what
The deal values theScore at roughly $2 billion, or $34 per share. Shareholders are slated to receive $17 in cash and 0.2398 shares of Penn National stock for each share of theScore they own. The transaction is expected to close in the first quarter of 2022, subject to regulatory and shareholder approval.
Now what
Investors applauded the deal. In addition to theScore's staggering gains, Penn National's stock price also jumped over 8% on the news.
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