International Game Technology (NYSE:IGT) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its stake in shares of International Game Technology (NYSE:IGT) by 7.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,546 shares of the company’s stock after buying an additional 4,223 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in International Game Technology were worth $952,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Quantinno Capital Management LP acquired a new stake in shares of International Game Technology during the fourth quarter worth $291,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of International Game Technology by 71.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,511 shares of the company’s stock worth $73,000 after purchasing an additional 1,879 shares during the last quarter. Norges Bank acquired a new stake in shares of International Game Technology during the fourth quarter worth $25,616,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of International Game Technology by 10.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company’s stock worth $151,495,000 after purchasing an additional 787,543 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in International Game Technology by 9.3% in the fourth quarter. Deutsche Bank AG now owns 446,731 shares of the company’s stock valued at $7,889,000 after acquiring an additional 38,027 shares during the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IGT. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price objective (down from $22.00) on shares of International Game Technology in a report on Wednesday, May 21st. Truist Financial cut their price objective on International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Susquehanna restated a “positive” rating and issued a $25.00 price objective (down from $30.00) on shares of International Game Technology in a report on Wednesday, May 14th. Wall Street Zen upgraded International Game Technology from a “sell” rating to a “hold” rating in a research note on Sunday, June 22nd. Finally, Argus lowered International Game Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, International Game Technology has an average rating of “Moderate Buy” and an average price target of $23.25.

International Game Technology Price Performance

IGT stock opened at $16.49 on Wednesday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 2.43 and a current ratio of 2.48. International Game Technology has a 1 year low of $13.81 and a 1 year high of $24.13. The firm has a market cap of $3.33 billion, a P/E ratio of 11.45 and a beta of 1.52. The stock has a 50-day simple moving average of $15.74 and a 200-day simple moving average of $16.50.

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 analysts’ consensus estimates of $0.14 by ($0.05). International Game Technology had a net margin of 11.46% and a return on equity of 7.86%. The business had revenue of $583.00 million for the quarter, compared to analyst estimates of $630.30 million. During the same quarter last year, the business earned $0.46 EPS. International Game Technology’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts predict that International Game Technology will post 1.24 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were given a $0.20 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.80 annualized dividend and a dividend yield of 4.85%. International Game Technology’s payout ratio is 55.56%.

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.