Arrowstreet Capital Limited Partnership Boosts Stock Position in International Game Technology PLC (NYSE:IGT)

Arrowstreet Capital Limited Partnership increased its position in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 54.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,098 shares of the company's stock after purchasing an additional 93,553 shares during the period. Arrowstreet Capital Limited Partnership owned 0.13% of International Game Technology worth $4,682,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Stifel Financial Corp lifted its holdings in International Game Technology by 22.2% during the 3rd quarter. Stifel Financial Corp now owns 56,179 shares of the company's stock valued at $1,197,000 after buying an additional 10,193 shares in the last quarter. State Street Corp grew its stake in International Game Technology by 1.0% during the 3rd quarter. State Street Corp now owns 2,103,275 shares of the company's stock worth $44,800,000 after buying an additional 21,295 shares during the last quarter. Zacks Investment Management purchased a new position in shares of International Game Technology in the 3rd quarter valued at approximately $645,000. Y Intercept Hong Kong Ltd grew its holdings in shares of International Game Technology by 180.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 29,932 shares of the company's stock valued at $638,000 after buying an additional 19,247 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of International Game Technology by 49.1% in the third quarter. Barclays PLC now owns 291,626 shares of the company's stock valued at $6,212,000 after purchasing an additional 96,019 shares during the period. 44.33% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

IGT has been the topic of several recent research reports. Truist Financial lowered their price objective on International Game Technology from $23.00 to $20.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th. StockNews.com raised International Game Technology from a "hold" rating to a "buy" rating in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $28.25.

International Game Technology Stock Performance

Shares of International Game Technology stock traded up $0.20 on Friday, hitting $15.62. The stock had a trading volume of 1,170,310 shares, compared to its average volume of 1,174,292. The company's 50 day moving average price is $16.84 and its 200 day moving average price is $18.30. International Game Technology PLC has a 52-week low of $13.81 and a 52-week high of $24.13. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 26.03 and a beta of 1.66. 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 (NYSE:IGT - Get Free Report) last released its 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 business had revenue of $651.00 million for the quarter, compared to analyst estimates of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. On average, research analysts anticipate that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date was Tuesday, March 11th. International Game Technology's dividend payout ratio is currently 46.78%.

About International Game Technology

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.