Mork Capital Management LLC acquired a new stake in shares of International Game Technology PLC (NYSE:IGT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 58,600 shares of the company's stock, valued at approximately $1,035,000.
Other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in International Game Technology during the fourth quarter valued at approximately $45,000. Sterling Capital Management LLC lifted its holdings in International Game Technology by 782.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company's stock valued at $55,000 after purchasing an additional 2,770 shares during the last quarter. Quarry LP boosted its position in International Game Technology by 103.9% in the fourth quarter. Quarry LP now owns 6,185 shares of the company's stock valued at $109,000 after buying an additional 3,151 shares in the last quarter. Cibc World Markets Corp acquired a new position in International Game Technology in the fourth quarter valued at about $188,000. Finally, Summit Investment Advisors Inc. boosted its position in International Game Technology by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock valued at $210,000 after buying an additional 655 shares in the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.
International Game Technology Price Performance
Shares of IGT stock traded up $0.25 during trading hours on Friday, reaching $16.88. 2,476,902 shares of the company were exchanged, compared to its average volume of 1,223,516. International Game Technology PLC has a fifty-two week low of $13.81 and a fifty-two week high of $24.13. The stock's fifty day moving average is $16.36 and its two-hundred day moving average is $17.62. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 28.13 and a beta of 1.61. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31.
International Game Technology (NYSE:IGT - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.05). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company had revenue of $583.00 million for the quarter, compared to analyst estimates of $630.30 million. Sell-side analysts forecast that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.
International Game Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 4.74%. The ex-dividend date is Thursday, May 29th. International Game Technology's dividend payout ratio (DPR) is 46.78%.
Analyst Ratings Changes
A number of equities analysts have commented on IGT shares. Stifel Nicolaus reduced 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 report on Tuesday, April 22nd. Susquehanna restated a "positive" rating and issued a $25.00 price target (down from $30.00) on shares of International Game Technology in a research report on Wednesday. Truist Financial reduced 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 research report on Wednesday, April 23rd. Finally, StockNews.com lowered shares of International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.75.
Check Out Our Latest Analysis on IGT
International Game Technology Company Profile
(
Free Report)
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.
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