Gamco Investors INC. ET AL cut its holdings in International Game Technology PLC (NYSE:IGT – Free Report) by 1.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 269,250 shares of the company’s stock after selling 5,200 shares during the period. Gamco Investors INC. ET AL’s holdings in International Game Technology were worth $8,586,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of IGT. Parkside Financial Bank & Trust boosted its holdings in shares of International Game Technology by 84.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock valued at $29,000 after buying an additional 534 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of International Game Technology during the first quarter valued at $49,000. Spire Wealth Management boosted its holdings in shares of International Game Technology by 98.9% during the second quarter. Spire Wealth Management now owns 1,810 shares of the company’s stock valued at $58,000 after acquiring an additional 900 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of International Game Technology by 71.4% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,400 shares of the company’s stock valued at $64,000 after acquiring an additional 1,000 shares during the period. Finally, TimeScale Financial Inc. boosted its holdings in shares of International Game Technology by 224.7% during the second quarter. TimeScale Financial Inc. now owns 2,435 shares of the company’s stock valued at $78,000 after acquiring an additional 1,685 shares during the period. 44.33% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of International Game Technology from $39.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Susquehanna reduced their price target on International Game Technology from $50.00 to $48.00 and set a “positive” rating for the company in a research report on Thursday, November 2nd. Truist Financial reduced their price target on International Game Technology from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. Finally, StockNews.com upgraded International Game Technology from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 13th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $43.33.
International Game Technology Stock Performance
IGT opened at $26.89 on Tuesday. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 56.02 and a beta of 2.00. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 0.96. International Game Technology PLC has a 1-year low of $21.38 and a 1-year high of $33.99. The business has a 50 day moving average price of $29.35 and a two-hundred day moving average price of $29.95.
International Game Technology (NYSE:IGT – Get Free Report) last released its earnings results on Tuesday, October 31st. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.13. International Game Technology had a return on equity of 19.39% and a net margin of 2.32%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Research analysts predict that International Game Technology PLC will post 1.81 EPS for the current fiscal year.
International Game Technology Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, November 28th. International Game Technology’s dividend payout ratio is presently 166.67%.
International Game Technology Company Profile
International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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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