Antara Capital LP Has $7.06 Million Holdings in International Game Technology PLC (NYSE:IGT)

Antara Capital LP boosted its holdings in shares of International Game Technology PLC (NYSE:IGT) by 575.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,000 shares of the company’s stock after acquiring an additional 340,800 shares during the period. International Game Technology comprises about 11.1% of Antara Capital LP’s portfolio, making the stock its 5th largest position. Antara Capital LP owned approximately 0.20% of International Game Technology worth $7,064,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IGT. Massachusetts Financial Services Co. MA grew its stake in International Game Technology by 10.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company’s stock worth $151,495,000 after buying an additional 787,543 shares during the last quarter. Norges Bank acquired a new stake in International Game Technology in the fourth quarter worth about $25,616,000. Vanguard Group Inc. grew its stake in shares of International Game Technology by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 1,328,460 shares of the company’s stock worth $23,461,000 after acquiring an additional 29,780 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of International Game Technology by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,601 shares of the company’s stock valued at $20,549,000 after acquiring an additional 31,408 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of International Game Technology in the 4th quarter valued at approximately $19,453,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Analyst Upgrades and Downgrades

IGT has been the topic of several research reports. Truist Financial cut their target price on International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday. Stifel Nicolaus dropped their price target on shares of International Game Technology from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, StockNews.com lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, International Game Technology currently has an average rating of “Moderate Buy” and an average target price of $25.75.

International Game Technology Price Performance

International Game Technology stock opened at $16.32 on Friday. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The company has a fifty day simple moving average of $16.69 and a 200-day simple moving average of $18.01. The stock has a market cap of $3.30 billion, a P/E ratio of 27.20 and a beta of 1.66. International Game Technology PLC has a 12-month low of $13.81 and a 12-month high of $24.13.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). The company had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $0.56 earnings per share. Equities analysts expect that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.90%. International Game Technology’s dividend payout ratio (DPR) is presently 46.78%.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. 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.