Fmr LLC Acquires 495,962 Shares of International Game Technology PLC (NYSE:IGT)

FMR LLC boosted its holdings in International Game Technology PLC (NYSE:IGT - Free Report) by 19.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,050,447 shares of the company's stock after buying an additional 495,962 shares during the period. FMR LLC owned approximately 1.53% of International Game Technology worth $64,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Sei Investments Co. grew its stake in International Game Technology by 0.3% in the 2nd quarter. Sei Investments Co. now owns 202,224 shares of the company's stock valued at $4,137,000 after buying an additional 515 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in International Game Technology by 26.1% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company's stock valued at $60,000 after buying an additional 579 shares in the last quarter. Qsemble Capital Management LP grew its stake in International Game Technology by 5.1% in the 2nd quarter. Qsemble Capital Management LP now owns 13,012 shares of the company's stock valued at $266,000 after buying an additional 631 shares in the last quarter. Victory Capital Management Inc. grew its stake in International Game Technology by 7.2% in the 3rd quarter. Victory Capital Management Inc. now owns 14,897 shares of the company's stock valued at $317,000 after buying an additional 996 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its stake in International Game Technology by 100.9% in the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company's stock valued at $47,000 after buying an additional 1,160 shares in the last quarter. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Price Performance

Shares of IGT traded up $0.20 during mid-day trading on Friday, reaching $19.68. 726,671 shares of the stock traded hands, compared to its average volume of 1,024,373. The firm has a fifty day moving average price of $20.27 and a 200 day moving average price of $20.83. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 32.78 and a beta of 1.91. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. International Game Technology PLC has a 1 year low of $18.56 and a 1 year high of $28.82.

International Game Technology (NYSE:IGT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company had revenue of $587.00 million for the quarter, compared to the consensus estimate of $591.50 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The business's revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts predict that International Game Technology PLC will post 1 earnings per share for the current year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, November 26th. International Game Technology's dividend payout ratio is currently 133.34%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of International Game Technology from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $28.67.

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.