BlackRock Inc. increased its stake in International Game Technology PLC (NYSE:IGT) by 24.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,947,130 shares of the company’s stock after acquiring an additional 585,100 shares during the period. BlackRock Inc. owned about 1.44% of International Game Technology worth $38,224,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. lifted its stake in shares of International Game Technology by 9.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,385,974 shares of the company’s stock valued at $17,976,000 after acquiring an additional 116,470 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of International Game Technology by 6.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 262,257 shares of the company’s stock valued at $3,401,000 after acquiring an additional 15,364 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of International Game Technology in the 2nd quarter valued at about $12,971,000. Northern Trust Corp lifted its stake in shares of International Game Technology by 1.8% in the 2nd quarter. Northern Trust Corp now owns 265,829 shares of the company’s stock valued at $3,447,000 after acquiring an additional 4,785 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of International Game Technology by 6,681.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,376,700 shares of the company’s stock valued at $17,856,000 after acquiring an additional 1,356,400 shares during the last quarter. 39.97% of the stock is owned by institutional investors.
Separately, ValuEngine raised International Game Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. International Game Technology has an average rating of “Buy” and a consensus target price of $24.10.
International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.13. International Game Technology had a positive return on equity of 8.51% and a negative net margin of 0.72%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the business earned $0.28 EPS. International Game Technology’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that International Game Technology PLC will post 1.34 EPS for the current fiscal year.
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 four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.
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