Point72 Hong Kong Ltd Acquires Shares of 76,814 International Game Technology PLC (NYSE:IGT)

Point72 Hong Kong Ltd acquired a new stake in shares of International Game Technology PLC (NYSE:IGT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 76,814 shares of the company's stock, valued at approximately $1,636,000.

A number of other institutional investors also recently added to or reduced their stakes in IGT. Price T Rowe Associates Inc. MD boosted its holdings in International Game Technology by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,965 shares of the company's stock worth $700,000 after acquiring an additional 3,935 shares in the last quarter. Tidal Investments LLC acquired a new stake in International Game Technology in the first quarter worth about $455,000. Harbor Capital Advisors Inc. lifted its holdings in shares of International Game Technology by 270.1% during the second quarter. Harbor Capital Advisors Inc. now owns 24,037 shares of the company's stock worth $492,000 after purchasing an additional 17,542 shares during the period. CWM LLC lifted its holdings in shares of International Game Technology by 156.7% during the second quarter. CWM LLC now owns 2,321 shares of the company's stock worth $47,000 after purchasing an additional 1,417 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of International Game Technology by 178.7% during the second quarter. SG Americas Securities LLC now owns 23,986 shares of the company's stock worth $491,000 after purchasing an additional 15,379 shares during the period. Institutional investors own 44.33% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded 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 given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $28.67.

International Game Technology Stock Up 4.5 %

Shares of IGT traded up $0.87 during mid-day trading on Monday, reaching $20.10. The company's stock had a trading volume of 578,183 shares, compared to its average volume of 1,109,445. The stock has a market cap of $4.00 billion, a PE ratio of 32.27 and a beta of 1.96. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. International Game Technology PLC has a 12-month low of $18.56 and a 12-month high of $28.82. The company's 50 day moving average is $20.44 and its 200 day moving average is $20.86.

International Game Technology (NYSE:IGT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.24). The company had revenue of $587.00 million for the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.52 earnings per share. Equities analysts anticipate 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. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Tuesday, November 26th. International Game Technology's dividend payout ratio (DPR) is 133.34%.

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.