Hotchkis & Wiley Capital Management LLC raised its stake in International Game Technology PLC (NYSE:IGT - Free Report) by 80.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,202,620 shares of the company's stock after purchasing an additional 537,330 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.60% of International Game Technology worth $25,616,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC acquired a new position in shares of International Game Technology in the third quarter valued at about $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Game Technology in the second quarter valued at about $31,000. Blue Trust Inc. acquired a new position in shares of International Game Technology in the second quarter valued at about $44,000. Hexagon Capital Partners LLC lifted its position in International Game Technology by 1,633.6% during the second quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company's stock worth $45,000 after purchasing an additional 2,091 shares during the period. Finally, Industrial Alliance Investment Management Inc. lifted its position in International Game Technology by 100.9% during the second quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company's stock worth $47,000 after purchasing an additional 1,160 shares during the period. 44.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised shares of International Game Technology from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $28.67.
Get Our Latest Report on IGT
International Game Technology Price Performance
Shares of IGT stock traded down $0.01 on Wednesday, reaching $19.91. The company had a trading volume of 847,732 shares, compared to its average volume of 1,110,138. The stock has a market capitalization of $3.96 billion, a PE ratio of 33.18 and a beta of 1.91. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. International Game Technology PLC has a one year low of $18.56 and a one year high of $28.82. The business's 50-day moving average is $20.36 and its 200 day moving average is $20.84.
International Game Technology (NYSE:IGT - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.24). The company had revenue of $587.00 million during the quarter, compared to the consensus estimate of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. Equities research analysts forecast that International Game Technology PLC will post 1 EPS for the current fiscal year.
International Game Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a yield of 4.02%. International Game Technology's dividend payout ratio (DPR) is presently 133.33%.
International Game Technology Company Profile
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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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