General Partner Inc. Buys New Position in International Game Technology PLC (NYSE:IGT)

General Partner Inc. purchased a new position in shares of International Game Technology PLC (NYSE:IGTFree Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $45,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank raised its stake in International Game Technology by 4.2% during the 3rd quarter. Amalgamated Bank now owns 16,766 shares of the company’s stock worth $508,000 after buying an additional 682 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in International Game Technology by 10.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,425 shares of the company’s stock worth $231,000 after buying an additional 805 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of International Game Technology in the fourth quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of International Game Technology by 2.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,393 shares of the company’s stock worth $1,354,000 after purchasing an additional 973 shares during the last quarter. Finally, Highlander Capital Management LLC purchased a new stake in shares of International Game Technology in the fourth quarter worth approximately $27,000. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Stock Performance

NYSE IGT traded up $0.11 on Tuesday, hitting $20.41. 197,433 shares of the stock traded hands, compared to its average volume of 1,154,843. The business’s fifty day moving average is $20.31 and its two-hundred day moving average is $23.58. International Game Technology PLC has a 12 month low of $18.90 and a 12 month high of $33.99. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 19.33 and a beta of 1.94. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.67 and a current ratio of 0.80.

International Game Technology (NYSE:IGTGet Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.17. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company earned $0.49 earnings per share. International Game Technology’s revenue was up .7% compared to the same quarter last year. As a group, equities analysts anticipate that International Game Technology PLC will post 1.53 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Thursday, May 30th. International Game Technology’s payout ratio is currently 76.19%.

Analyst Ratings Changes

A number of brokerages recently commented on IGT. Truist Financial decreased their price target on International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a research report on Wednesday, May 15th. Stifel Nicolaus raised International Game Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $24.00 to $26.00 in a research report on Thursday, May 30th. StockNews.com downgraded International Game Technology from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 13th. B. Riley began coverage on International Game Technology in a research report on Friday, April 5th. They set a “buy” rating and a $30.00 price target for the company. Finally, Susquehanna decreased their price target on International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a research report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Check Out Our Latest Report on International Game Technology

International Game Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Game Technology (NYSE:IGT)

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