International Game Technology PLC (NYSE:IGT) Shares Acquired by Graham Capital Management L.P.

Graham Capital Management L.P. boosted its holdings in International Game Technology PLC (NYSE:IGT) by 476.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 160,610 shares of the company’s stock after purchasing an additional 132,746 shares during the quarter. Graham Capital Management L.P.’s holdings in International Game Technology were worth $2,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in shares of International Game Technology by 4.2% during the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company’s stock valued at $274,000 after acquiring an additional 622 shares during the last quarter. Summit Investment Advisors Inc. increased its position in International Game Technology by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company’s stock worth $210,000 after purchasing an additional 655 shares during the last quarter. Van ECK Associates Corp raised its stake in International Game Technology by 5.1% during the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock worth $419,000 after purchasing an additional 1,145 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of International Game Technology by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company’s stock valued at $990,000 after purchasing an additional 1,442 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of International Game Technology during the 4th quarter valued at $45,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Stock Down 0.2 %

Shares of International Game Technology stock opened at $17.23 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. International Game Technology PLC has a twelve month low of $13.81 and a twelve month high of $24.13. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 28.72 and a beta of 1.61. The company has a fifty day moving average price of $16.43 and a 200 day moving average price of $17.71.

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

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s dividend payout ratio is currently 46.78%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IGT. 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, April 23rd. Stifel Nicolaus cut their price objective on International Game Technology from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, StockNews.com lowered International Game Technology from a “buy” rating to a “hold” rating in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, International Game Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

About International Game Technology

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.