O Shaughnessy Asset Management LLC announced in its latest 13F filing with the Securities and Exchange Commission that it reduced its holdings in International Game Technology PLC (NYSE:IGT – free report) by 41.7% during the first quarter. The firm sold 27,975 shares during the quarter to hold 39,047 shares of the company’s stock. O Shaughnessy Asset Management LLC’s holdings in International Game Technology were worth $882,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings in IGT. Venturi Wealth Management LLC acquired a stake in International Game Technology worth approximately $25,000 in the fourth quarter. Highlander Capital Management LLC acquired a stake in International Game Technology worth approximately $27,000 in the fourth quarter. VisionPoint Advisory Group LLC acquired a stake in International Game Technology worth approximately $38,000 in the fourth quarter. General Partner Inc. acquired a stake in International Game Technology worth approximately $45,000 in the first quarter. Finally, Covestor Ltd increased its holdings in International Game Technology by 70.2% in the first quarter. Covestor Ltd now holds 3,539 shares of the company’s stock, valued at $80,000, after acquiring an additional 1,460 shares during the period. 44.33% of the stock is held by institutional investors and hedge funds.
Wall Street analysts predict growth
IGT has been the subject of a number of research reports recently. Truist Financial lowered their price target on International Game Technology from $26.00 to $23.00 and set a “hold” rating on the company in a research report on Wednesday, May 15th. B. Riley reaffirmed their “buy” rating and set a $30.00 price target on shares of International Game Technology in a research report on Friday. Stifel Nicolaus raised International Game Technology from a “hold” rating to a “buy” rating and increased their price target from $24.00 to $26.00 in a research report on Thursday, May 30th. StockNews.com lowered International Game Technology from a “strong buy” rating to a “buy” rating in a report on Friday, July 5th. Finally, Susquehanna lowered their price target on International Game Technology from $40.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating. According to MarketBeat data, the company currently has an average rating of a “moderate buy” and an average price target of $28.00.
View the latest stock analysis for IGT
International Gaming Technology Price Performance
IGT shares opened trading at $23.77 on Friday. International Game Technology PLC’s 52-week low is $18.90 and its 52-week high is $33.99. The stock’s 50-day simple moving average is $20.46 and its 200-day simple moving average is $22.28. The company’s quick ratio is 0.67, current ratio is 0.80 and debt-to-equity ratio is 2.59. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 22.64 and a beta of 1.98.
International Game Technology (NYSE:IGT – Get free report ) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.17. International Game Technology’s ROE was 20.84%, with a net margin of 4.98%. The company’s revenue for the quarter was $1.07 billion, beating analyst expectations of $1.03 billion. In the same quarter last year, the company earned $0.49 earnings per share. The company’s revenue grew 0.7% year-over-year. Equity research analysts expect International Game Technology PLC to post EPS of 1.54 for the year.
International Game Technology Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a $0.20 dividend. This equates to a $0.80 dividend on an annualized basis, or a yield of 3.37%. The ex-dividend date was Thursday, May 30th. International Game Technology’s dividend payout ratio is currently 76.19%.
International Games Technology Profile
(Free report)
International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, the United Kingdom, other European countries, and internationally. The company operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company also designs, sells, operates and leases point-of-sale machine suites that reconcile lottery funds between retailers and lottery authorities, provides online lottery transaction processing systems, produces instant ticket games, provides printing services such as instant ticket marketing plans, graphic design, programming, packaging, shipping and delivery services, and iLottery solutions and services.
References
Want to know which other hedge funds are holding IGT? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for International Game Technology PLC (NYSE:IGT – FREE REPORT).
Get International Game Technology News and Ratings Daily – Enter your email address below to receive a concise summary of the latest news and analyst ratings on International Game Technology and related companies every day with MarketBeat.com’s free email newsletter.
