International Game Technology PLC (NYSE:IGT) Shares Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd boosted its holdings in International Game Technology PLC (NYSE:IGT) by 49.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 115,105 shares of the company’s stock after buying an additional 38,291 shares during the quarter. Point72 Hong Kong Ltd’s holdings in International Game Technology were worth $2,033,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IGT. Norges Bank acquired a new position in International Game Technology in the fourth quarter worth approximately $25,616,000. Lazard Asset Management LLC grew its position in International Game Technology by 13.1% in the fourth quarter. Lazard Asset Management LLC now owns 10,927,433 shares of the company’s stock worth $192,978,000 after buying an additional 1,267,625 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in International Game Technology in the fourth quarter worth approximately $19,453,000. Beryl Capital Management LLC acquired a new position in International Game Technology in the fourth quarter worth approximately $15,213,000. Finally, Massachusetts Financial Services Co. MA grew its position in International Game Technology by 10.1% in the fourth 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. Institutional investors and hedge funds own 44.33% of the company’s stock.

Analyst Upgrades and Downgrades

IGT has been the topic of several recent research reports. StockNews.com lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 14th. Susquehanna reaffirmed a “positive” rating and issued a $25.00 price objective (down previously from $30.00) on shares of International Game Technology in a research note on Wednesday. Stifel Nicolaus decreased their price objective on shares of International Game Technology from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Truist Financial decreased their price objective on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

International Game Technology Trading Down 0.8%

International Game Technology stock opened at $16.62 on Friday. The company has a 50 day moving average price of $16.36 and a 200 day moving average price of $17.62. International Game Technology PLC has a 52 week low of $13.81 and a 52 week high of $24.13. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 27.70 and a beta of 1.61.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). The firm had revenue of $583.00 million during the quarter, compared to analyst estimates of $630.30 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. Research analysts forecast that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Thursday, May 29th. International Game Technology’s dividend payout ratio (DPR) is currently 46.78%.

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.