Intech Investment Management LLC grew its position in International Game Technology PLC (NYSE:IGT - Free Report) by 82.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,974 shares of the company's stock after acquiring an additional 19,481 shares during the quarter. Intech Investment Management LLC's holdings in International Game Technology were worth $759,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of IGT. Victory Capital Management Inc. raised its position in shares of 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 buying an additional 996 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of International Game Technology by 126.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 45,960 shares of the company's stock worth $979,000 after purchasing an additional 25,665 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in International Game Technology during the 3rd quarter worth approximately $1,209,000. Charles Schwab Investment Management Inc. raised its holdings in International Game Technology by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,132,193 shares of the company's stock valued at $24,116,000 after buying an additional 164,935 shares during the period. Finally, Cerity Partners LLC acquired a new position in International Game Technology during the third quarter valued at approximately $676,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.
International Game Technology Stock Down 1.5 %
Shares of NYSE IGT traded down $0.26 during midday trading on Tuesday, reaching $16.81. 431,919 shares of the company's stock were exchanged, compared to its average volume of 1,106,394. International Game Technology PLC has a 52-week low of $16.42 and a 52-week high of $24.13. The business's fifty day moving average price is $17.30 and its two-hundred day moving average price is $18.91. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The stock has a market capitalization of $3.40 billion, a PE ratio of 28.02 and a beta of 1.86.
International Game Technology (NYSE:IGT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.10). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company had revenue of $651.00 million for the quarter, compared to analyst estimates of $657.84 million. During the same period in the previous year, the business posted $0.56 EPS. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. Analysts forecast that International Game Technology PLC will post 1.24 EPS for the current year.
International Game Technology Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.80 dividend on an annualized basis and a yield of 4.76%. International Game Technology's dividend payout ratio (DPR) is 46.78%.
Analyst Ratings Changes
A number of brokerages have recently commented on IGT. StockNews.com downgraded shares of International Game Technology from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Truist Financial reduced their price objective on International Game Technology from $23.00 to $20.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.25.
Read Our Latest Research Report on IGT
International Game Technology Company Profile
(
Free Report)
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.
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