Quantbot Technologies LP Purchases Shares of 121,982 International Game Technology PLC (NYSE:IGT)

Quantbot Technologies LP acquired a new stake in International Game Technology PLC (NYSE:IGT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 121,982 shares of the company's stock, valued at approximately $2,154,000. Quantbot Technologies LP owned approximately 0.06% of International Game Technology as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in International Game Technology by 4.2% during the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock worth $274,000 after purchasing an additional 622 shares during the period. Point72 DIFC Ltd lifted 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 worth $274,000 after buying an additional 947 shares during the period. Van ECK Associates Corp lifted its position in shares of International Game Technology by 5.1% during the 4th 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. Harbor Capital Advisors Inc. boosted its stake in International Game Technology by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company's stock valued at $990,000 after buying an additional 1,442 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in International Game Technology in the fourth quarter valued at $45,000. 44.33% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of research firms have commented on IGT. Truist Financial reduced their price target on shares of 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 lowered International Game Technology from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $28.25.

International Game Technology Price Performance

Shares of IGT stock traded down $0.17 during trading hours on Tuesday, reaching $16.91. 503,727 shares of the company were exchanged, compared to its average volume of 1,106,394. International Game Technology PLC has a fifty-two week low of $16.42 and a fifty-two week high of $24.13. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The stock's fifty day moving average is $17.30 and its two-hundred day moving average is $18.91. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 28.18 and a beta of 1.86.

International Game Technology (NYSE:IGT - Get Free Report) last posted its quarterly earnings data 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 firm 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 firm's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. Sell-side analysts forecast that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date is Tuesday, March 11th. International Game Technology's dividend payout ratio (DPR) is currently 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.