International Game Technology PLC (NYSE:IGT) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 52.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,461 shares of the company's stock after selling 27,015 shares during the period. Cornercap Investment Counsel Inc.'s holdings in International Game Technology were worth $521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in International Game Technology by 7.2% in the third quarter. Victory Capital Management Inc. now owns 14,897 shares of the company's stock valued at $317,000 after purchasing an additional 996 shares during the period. M&G PLC lifted its position in shares of International Game Technology by 2.9% during the 3rd quarter. M&G PLC now owns 455,533 shares of the company's stock valued at $9,566,000 after buying an additional 13,010 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of International Game Technology by 11.0% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 64,320 shares of the company's stock valued at $1,370,000 after buying an additional 6,400 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in International Game Technology by 127.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 54,606 shares of the company's stock valued at $1,163,000 after acquiring an additional 30,569 shares during the period. Finally, Signaturefd LLC purchased a new stake in International Game Technology in the 3rd quarter worth $26,000. Hedge funds and other institutional investors own 44.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. StockNews.com raised shares of International Game Technology from a "hold" rating to a "buy" rating in a report on Friday, November 8th. B. Riley reiterated a "buy" rating and issued a $30.00 price objective on shares of International Game Technology in a report on Friday, July 26th. Finally, Stifel Nicolaus boosted their price objective on International Game Technology from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $28.67.

International Game Technology Stock Performance

NYSE:IGT opened at $19.51 on Friday. The company has a market cap of $3.88 billion, a P/E ratio of 32.52 and a beta of 1.96. International Game Technology PLC has a twelve month low of $18.90 and a twelve month high of $28.82. The company's 50-day moving average price is $20.94 and its 200-day moving average price is $20.92. The company has a current ratio of 2.36, a quick ratio of 0.71 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.24). The business had revenue of $587.00 million during the quarter, compared to analysts' expectations of $591.50 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 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. On average, sell-side analysts forecast that International Game Technology PLC will post 1.16 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Tuesday, November 26th. International Game Technology's dividend payout ratio (DPR) is currently 133.34%.

International Game Technology 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.