Diametric Capital LP Lowers Stock Holdings in International Game Technology PLC (NYSE:IGT)

Diametric Capital LP reduced its stake in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,156 shares of the company's stock after selling 75,781 shares during the period. International Game Technology accounts for approximately 1.6% of Diametric Capital LP's portfolio, making the stock its 5th biggest holding. Diametric Capital LP owned 0.07% of International Game Technology worth $2,334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IGT. Victory Capital Management Inc. increased its holdings in shares of International Game Technology by 4.2% during the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock valued at $274,000 after acquiring an additional 622 shares during the last quarter. Point72 DIFC Ltd grew its holdings in International Game Technology by 7.9% during the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company's stock valued at $274,000 after purchasing an additional 947 shares during the last quarter. Van ECK Associates Corp raised its position in shares of International Game Technology by 5.1% in the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock valued at $419,000 after purchasing an additional 1,145 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of International Game Technology by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company's stock worth $990,000 after buying an additional 1,442 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in International Game Technology in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 44.33% of the company's stock.

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Analyst Ratings Changes

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

International Game Technology Stock Performance

International Game Technology stock traded down $0.72 during mid-day trading on Friday, reaching $14.60. The company had a trading volume of 2,980,360 shares, compared to its average volume of 1,160,553. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 24.33 and a beta of 1.86. The company has a 50 day moving average of $17.09 and a 200-day moving average of $18.59. International Game Technology PLC has a 52 week low of $13.88 and a 52 week high of $24.13.

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 for the quarter, missing the consensus estimate of $0.32 by ($0.10). The company had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. On average, sell-side analysts expect that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.48%. The ex-dividend date was Tuesday, March 11th. International Game Technology's dividend payout ratio (DPR) is presently 46.78%.

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.