Alden Global Capital LLC Purchases New Shares in International Game Technology PLC (NYSE:IGT)

Alden Global Capital LLC acquired a new stake in International Game Technology PLC (NYSE:IGT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 217,846 shares of the company's stock, valued at approximately $3,847,000. International Game Technology comprises 3.8% of Alden Global Capital LLC's holdings, making the stock its 10th largest position. Alden Global Capital LLC owned 0.11% of International Game Technology as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in 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 valued at $151,495,000 after buying an additional 787,543 shares during the period. Solel Partners LP grew its position in shares of International Game Technology by 14.6% during the 4th quarter. Solel Partners LP now owns 3,058,150 shares of the company's stock valued at $54,007,000 after acquiring an additional 390,726 shares during the period. Norges Bank purchased a new stake in shares of International Game Technology during the 4th quarter worth approximately $25,616,000. Vanguard Group Inc. raised its holdings in shares of International Game Technology by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 1,328,460 shares of the company's stock worth $23,461,000 after purchasing an additional 29,780 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in International Game Technology by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,601 shares of the company's stock valued at $20,549,000 after purchasing an additional 31,408 shares during the last quarter. Institutional investors own 44.33% of the company's stock.

International Game Technology Price Performance

Shares of NYSE IGT opened at $16.47 on Friday. 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 PLC has a fifty-two week low of $13.81 and a fifty-two week high of $24.13. The stock has a market cap of $3.33 billion, a PE ratio of 27.44 and a beta of 1.66. The stock has a fifty day moving average of $16.54 and a 200-day moving average of $17.88.

International Game Technology (NYSE:IGT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company had revenue of $651.00 million for the quarter, compared to analysts' expectations of $657.84 million. During the same period in the previous year, the firm earned $0.56 EPS. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts anticipate that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Tuesday, March 11th. International Game Technology's payout ratio is 46.78%.

Analyst Upgrades and Downgrades

IGT has been the topic of several research reports. StockNews.com lowered International Game Technology from a "buy" rating to a "hold" rating in a research note on Monday, April 14th. Truist Financial lowered their price objective on 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. Finally, Stifel Nicolaus cut their target price on shares of International Game Technology from $26.00 to $22.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, International Game Technology has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

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.

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