Antara Capital LP Purchases 340,800 Shares of International Game Technology PLC (NYSE:IGT)

Antara Capital LP increased its holdings in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 575.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 400,000 shares of the company's stock after purchasing an additional 340,800 shares during the quarter. International Game Technology accounts for approximately 11.1% of Antara Capital LP's portfolio, making the stock its 5th biggest position. Antara Capital LP owned about 0.20% of International Game Technology worth $7,064,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in International Game Technology in the 4th quarter valued at approximately $25,616,000. T. Rowe Price Investment Management Inc. acquired a new stake in International Game Technology in the 4th quarter valued at about $19,453,000. Massachusetts Financial Services Co. MA raised its position in International Game Technology by 10.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company's stock valued at $151,495,000 after purchasing an additional 787,543 shares in the last quarter. Orvieto Partners L.P. purchased a new position in shares of International Game Technology in the 4th quarter valued at about $8,292,000. Finally, Quantbot Technologies LP acquired a new position in shares of International Game Technology during the fourth quarter worth about $2,154,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

International Game Technology Stock Performance

Shares of IGT stock traded down $0.02 during mid-day trading on Wednesday, hitting $16.53. 425,874 shares of the stock were exchanged, compared to its average volume of 1,171,780. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 27.55 and a beta of 1.66. International Game Technology PLC has a 12-month low of $13.81 and a 12-month high of $24.13. The stock's fifty day simple moving average is $16.60 and its two-hundred day simple moving average is $17.91. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing the consensus estimate 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 business had revenue of $651.00 million during the quarter, compared to analysts' expectations of $657.84 million. During the same quarter last year, the company earned $0.56 EPS. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, analysts forecast that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Tuesday, March 11th. International Game Technology's dividend payout ratio is presently 46.78%.

About International Game Technology

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.