Dark Forest Capital Management LP Takes $458,000 Position in International Game Technology PLC (NYSE:IGT)

Dark Forest Capital Management LP bought a new stake in International Game Technology PLC (NYSE:IGT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,949 shares of the company's stock, valued at approximately $458,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IGT. Stifel Financial Corp raised its holdings in shares of International Game Technology by 56.9% in the 4th quarter. Stifel Financial Corp now owns 88,161 shares of the company's stock valued at $1,557,000 after purchasing an additional 31,982 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of International Game Technology by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 69,530 shares of the company's stock valued at $1,228,000 after acquiring an additional 3,834 shares during the period. Gabelli Funds LLC increased its position in shares of International Game Technology by 2.8% in the 4th quarter. Gabelli Funds LLC now owns 288,084 shares of the company's stock valued at $5,088,000 after acquiring an additional 7,934 shares during the period. XTX Topco Ltd acquired a new stake in International Game Technology during the 4th quarter worth about $355,000. Finally, Summit Investment Advisors Inc. grew its position 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 worth $210,000 after purchasing an additional 655 shares during the period. Hedge funds and other institutional investors own 44.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IGT shares. Truist Financial lowered their target price on shares of International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus decreased 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 note on Tuesday, April 22nd. Finally, StockNews.com cut International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $25.75.

International Game Technology Stock Performance

IGT traded up $0.07 during trading on Thursday, hitting $16.47. 615,185 shares of the stock were exchanged, compared to its average volume of 1,170,545. The firm has a market capitalization of $3.33 billion, a P/E ratio of 27.44 and a beta of 1.66. International Game Technology PLC has a 1-year low of $13.81 and a 1-year high of $24.13. The stock has a fifty day moving average price of $16.57 and a two-hundred day moving average price of $17.90. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate 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 revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. As a group, sell-side analysts predict that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.80 dividend on an annualized basis and a yield of 4.86%. International Game Technology's payout ratio is 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.