Antara Capital LP Has $7.06 Million Stock Position in International Game Technology PLC (NYSE:IGT)

Antara Capital LP boosted its stake in International Game Technology PLC (NYSE:IGT - Free Report) by 575.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 400,000 shares of the company's stock after buying an additional 340,800 shares during the period. International Game Technology makes up 11.1% of Antara Capital LP's portfolio, making the stock its 5th largest holding. Antara Capital LP owned 0.20% of International Game Technology worth $7,064,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of International Game Technology in the 4th quarter valued at approximately $45,000. Sterling Capital Management LLC grew its holdings in International Game Technology by 782.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company's stock worth $55,000 after acquiring an additional 2,770 shares during the period. Cibc World Markets Corp bought a new stake in International Game Technology in the fourth quarter worth approximately $188,000. Summit Investment Advisors Inc. lifted its position in shares of International Game Technology by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock valued at $210,000 after acquiring an additional 655 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of International Game Technology by 4.2% during the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock valued at $274,000 after purchasing an additional 622 shares during the period. Institutional investors and hedge funds own 44.33% of the company's stock.

International Game Technology Price Performance

IGT stock traded up $0.03 during midday trading on Monday, reaching $16.40. The company had a trading volume of 1,131,992 shares, compared to its average volume of 1,174,438. The firm has a 50-day moving average price of $16.66 and a 200-day moving average price of $17.95. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The company has a market capitalization of $3.31 billion, a P/E ratio of 27.33 and a beta of 1.66. International Game Technology PLC has a 1 year low of $13.81 and a 1 year high of $24.13.

International Game Technology (NYSE:IGT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). The firm had revenue of $651.00 million for the quarter, compared to the consensus estimate of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. On average, research analysts anticipate that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Tuesday, March 11th. International Game Technology's payout ratio is 46.78%.

Analysts Set New Price Targets

A number of research analysts have weighed in on IGT shares. Truist Financial dropped their price objective on shares of International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. StockNews.com lowered International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Finally, Stifel Nicolaus dropped their price objective on International Game Technology from $26.00 to $22.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.75.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.