Ellington Management Group LLC increased its position in shares of International Game Technology (NYSE:IGT) by 50.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 27,600 shares of the company’s stock after buying an additional 9,200 shares during the quarter. Ellington Management Group LLC’s holdings in International Game Technology were worth $732,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Kendall Capital Management purchased a new stake in International Game Technology during the fourth quarter worth $543,000. Caxton Associates LP purchased a new stake in International Game Technology during the fourth quarter worth $7,290,000. Dynamic Capital Management Ltd purchased a new stake in International Game Technology during the fourth quarter worth $729,000. Corsair Capital Management L.P. boosted its holdings in International Game Technology by 5.6% during the fourth quarter. Corsair Capital Management L.P. now owns 153,061 shares of the company’s stock worth $4,058,000 after buying an additional 8,061 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its holdings in International Game Technology by 34.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 3,394,600 shares of the company’s stock worth $89,991,000 after buying an additional 867,000 shares in the last quarter. 40.70% of the stock is currently owned by hedge funds and other institutional investors.
International Game Technology (NYSE IGT) opened at $29.72 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.75 and a debt-to-equity ratio of 2.87. The stock has a market cap of $5,912.99, a price-to-earnings ratio of 19.22 and a beta of 1.62. International Game Technology has a twelve month low of $17.25 and a twelve month high of $30.22.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Thursday, March 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, March 21st. International Game Technology’s payout ratio is -15.21%.
A number of analysts recently issued reports on the stock. Jefferies Group set a $34.00 price target on shares of International Game Technology and gave the stock a “buy” rating in a report on Friday. Bank of America set a $32.00 price target on shares of International Game Technology and gave the stock a “buy” rating in a report on Thursday, March 8th. ValuEngine raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Argus raised shares of International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, November 29th. Finally, Deutsche Bank increased their price objective on shares of International Game Technology to $34.00 and gave the company a “buy” rating in a report on Monday, November 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.25.
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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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