Gotham Asset Management LLC Decreases Stock Position in International Game Technology PLC (NYSE:IGT)

Gotham Asset Management LLC cut its holdings in International Game Technology PLC (NYSE:IGT) by 9.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 31,974 shares of the company’s stock after selling 3,237 shares during the period. Gotham Asset Management LLC’s holdings in International Game Technology were worth $565,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of International Game Technology in the 4th quarter worth $45,000. Sterling Capital Management LLC increased its holdings in International Game Technology by 782.5% in the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock worth $55,000 after buying an additional 2,770 shares in the last quarter. Quarry LP increased its holdings in International Game Technology by 103.9% in the 4th quarter. Quarry LP now owns 6,185 shares of the company’s stock worth $109,000 after buying an additional 3,151 shares in the last quarter. Cibc World Markets Corp purchased a new position in International Game Technology in the 4th quarter worth about $188,000. Finally, Summit Investment Advisors Inc. lifted its stake in International Game Technology by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company’s stock valued at $210,000 after acquiring an additional 655 shares during the period. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Trading Up 1.5%

Shares of NYSE:IGT opened at $16.88 on Monday. The stock’s 50-day simple moving average is $16.35 and its two-hundred day simple moving average is $17.55. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 28.13 and a beta of 1.61. 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.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, May 13th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.05). The business had revenue of $583.00 million during the quarter, compared to the consensus estimate of $630.30 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. International Game Technology’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.46 EPS. Analysts expect that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology’s dividend payout ratio is presently 55.56%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IGT. Truist Financial dropped their price target on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus lowered their price objective 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, April 22nd. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 14th. Finally, Susquehanna reiterated a “positive” rating and set a $25.00 target price (down from $30.00) on shares of International Game Technology in a research note on Wednesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, International Game Technology presently has an average rating of “Moderate Buy” and an average target price of $23.75.

International Game Technology 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.