RPG Investment Advisory LLC Acquires New Stake in International Game Technology PLC (IGT)

RPG Investment Advisory LLC purchased a new position in shares of International Game Technology PLC (NYSE:IGT) during the 3rd quarter, HoldingsChannel reports. The fund purchased 231,558 shares of the company’s stock, valued at approximately $4,573,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mittleman Brothers LLC raised its position in International Game Technology by 22.9% during the third quarter. Mittleman Brothers LLC now owns 914,748 shares of the company’s stock worth $18,066,000 after acquiring an additional 170,715 shares in the last quarter. Gabelli Funds LLC raised its position in International Game Technology by 35.3% during the third quarter. Gabelli Funds LLC now owns 161,000 shares of the company’s stock worth $3,180,000 after acquiring an additional 42,000 shares in the last quarter. Synovus Financial Corp raised its position in International Game Technology by 21,298.2% during the third quarter. Synovus Financial Corp now owns 11,769 shares of the company’s stock worth $234,000 after acquiring an additional 11,714 shares in the last quarter. Kendall Capital Management raised its position in International Game Technology by 27.5% during the third quarter. Kendall Capital Management now owns 46,690 shares of the company’s stock worth $922,000 after acquiring an additional 10,075 shares in the last quarter. Finally, W.E. Donoghue & Co. LLC raised its position in International Game Technology by 160.6% during the third quarter. W.E. Donoghue & Co. LLC now owns 51,212 shares of the company’s stock worth $1,011,000 after acquiring an additional 31,558 shares in the last quarter. 47.27% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 price target on shares of International Game Technology in a research report on Wednesday, August 1st. ValuEngine lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Credit Suisse Group assumed coverage on shares of International Game Technology in a research report on Tuesday, August 14th. They set a “neutral” rating and a $24.00 price target on the stock. SunTrust Banks initiated coverage on shares of International Game Technology in a research report on Monday, October 1st. They set a “hold” rating and a $21.00 price target on the stock. Finally, Societe Generale initiated coverage on shares of International Game Technology in a report on Wednesday, October 17th. They issued a “buy” rating and a $20.50 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $27.36.

Shares of NYSE:IGT traded down $0.12 on Wednesday, hitting $17.21. The company had a trading volume of 322,297 shares, compared to its average volume of 4,786,677. International Game Technology PLC has a 1-year low of $15.01 and a 1-year high of $31.00. The company has a market cap of $3.69 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.59 and a beta of 1.30. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.03 and a quick ratio of 0.88.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Wednesday, October 31st. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. International Game Technology had a net margin of 3.27% and a return on equity of 11.52%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts expect that International Game Technology PLC will post 1.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 14th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 4.65%. International Game Technology’s dividend payout ratio is currently 52.63%.

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About International Game Technology

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.

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

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