International Game Technology (IGT) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in International Game Technology (NYSE:IGT) by 94.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,104 shares of the company’s stock after selling 1,236,414 shares during the quarter. Russell Investments Group Ltd.’s holdings in International Game Technology were worth $1,337,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its position in shares of International Game Technology by 37.8% in the 1st quarter. FMR LLC now owns 2,402,519 shares of the company’s stock valued at $56,940,000 after purchasing an additional 659,564 shares during the last quarter. Vanguard Group Inc. raised its position in shares of International Game Technology by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 2,271,003 shares of the company’s stock valued at $53,822,000 after purchasing an additional 86,552 shares during the last quarter. Mittleman Brothers LLC raised its position in shares of International Game Technology by 8.8% in the 1st quarter. Mittleman Brothers LLC now owns 1,729,836 shares of the company’s stock valued at $40,997,000 after purchasing an additional 139,578 shares during the last quarter. Morgan Stanley raised its position in shares of International Game Technology by 16.0% in the 1st quarter. Morgan Stanley now owns 1,374,633 shares of the company’s stock valued at $32,579,000 after purchasing an additional 189,841 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of International Game Technology by 17.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,362,800 shares of the company’s stock valued at $32,298,000 after purchasing an additional 200,000 shares during the last quarter. 39.01% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently commented on the stock. ValuEngine lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Telsey Advisory Group decreased their price objective on shares of International Game Technology from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, May 26th. BidaskClub lowered shares of International Game Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Bank of America Corporation reaffirmed a “neutral” rating and issued a $27.00 price objective (up from $22.00) on shares of International Game Technology in a research report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. International Game Technology has an average rating of “Hold” and a consensus target price of $27.38.

Shares of International Game Technology (IGT) traded down 2.19% during trading on Friday, reaching $20.09. 958,681 shares of the company traded hands. The company’s market capitalization is $4.08 billion. International Game Technology has a 1-year low of $17.25 and a 1-year high of $32.07. The stock’s 50 day moving average is $20.07 and its 200 day moving average is $21.14.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.17. International Game Technology had a negative net margin of 2.28% and a positive return on equity of 10.35%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the firm posted $0.43 EPS. International Game Technology’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts forecast that International Game Technology will post $1.20 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Friday, August 11th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Wednesday, August 9th. International Game Technology’s dividend payout ratio is currently -142.86%.

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International Game Technology Company Profile

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.

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

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