Prescott Group Capital Management L.L.C. Sells 30,689 Shares of International Game Technology PLC (NYSE:IGT)

Prescott Group Capital Management L.L.C. cut its stake in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 67.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,498 shares of the company's stock after selling 30,689 shares during the quarter. Prescott Group Capital Management L.L.C.'s holdings in International Game Technology were worth $256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in International Game Technology during the 4th quarter worth about $45,000. Point72 DIFC Ltd grew its position in shares of International Game Technology by 7.9% during the 3rd quarter. Point72 DIFC Ltd now owns 12,870 shares of the company's stock valued at $274,000 after buying an additional 947 shares during the last quarter. Victory Capital Management Inc. lifted its stake in International Game Technology by 4.2% in the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock valued at $274,000 after buying an additional 622 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of International Game Technology by 5.1% during the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock worth $419,000 after buying an additional 1,145 shares during the period. Finally, Intech Investment Management LLC acquired a new position in International Game Technology during the 3rd quarter valued at about $500,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.

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International Game Technology Stock Performance

NYSE:IGT traded down $0.61 on Tuesday, hitting $17.04. The company's stock had a trading volume of 1,371,973 shares, compared to its average volume of 1,160,643. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The stock has a fifty day moving average of $17.42 and a two-hundred day moving average of $19.27. International Game Technology PLC has a one year low of $16.42 and a one year high of $25.29. The firm has a market capitalization of $3.44 billion, a P/E ratio of 28.40 and a beta of 1.86.

International Game Technology (NYSE:IGT - Get Free Report) last released its quarterly 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 firm had revenue of $651.00 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.56 earnings per share. Research analysts predict that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.69%. International Game Technology's dividend payout ratio is 46.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IGT shares. Truist Financial cut their target price 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 downgraded shares of International Game Technology from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $28.00.

International Game Technology Company 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.