Parsifal Capital Management LP Sells 582,953 Shares of International Game Technology PLC (NYSE:IGT)

Parsifal Capital Management LP cut its stake in International Game Technology PLC (NYSE:IGT - Free Report) by 15.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,232,002 shares of the company's stock after selling 582,953 shares during the period. International Game Technology makes up approximately 4.7% of Parsifal Capital Management LP's investment portfolio, making the stock its 10th biggest position. Parsifal Capital Management LP owned approximately 1.62% of International Game Technology worth $68,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Segall Bryant & Hamill LLC bought a new position in shares of International Game Technology in the third quarter valued at approximately $1,209,000. Massachusetts Financial Services Co. MA lifted its stake in International Game Technology by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company's stock valued at $165,946,000 after purchasing an additional 47,442 shares during the last quarter. Qsemble Capital Management LP lifted its stake in International Game Technology by 230.0% during the third quarter. Qsemble Capital Management LP now owns 42,941 shares of the company's stock valued at $915,000 after purchasing an additional 29,929 shares during the last quarter. M&G Plc acquired a new stake in International Game Technology during the second quarter valued at approximately $8,850,000. Finally, BBR Partners LLC acquired a new stake in International Game Technology during the third quarter valued at approximately $639,000. 44.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

International Game Technology Trading Down 0.1 %

Shares of NYSE:IGT traded down $0.01 during mid-day trading on Wednesday, hitting $19.91. The stock had a trading volume of 847,732 shares, compared to its average volume of 1,110,138. The company has a market cap of $3.96 billion, a PE ratio of 33.17 and a beta of 1.91. 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 company's 50 day moving average is $20.38 and its 200-day moving average is $20.85. International Game Technology PLC has a 12-month low of $18.56 and a 12-month high of $28.82.

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

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 4.02%. International Game Technology's dividend payout ratio (DPR) is 133.33%.

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.