Balyasny Asset Management L.P. Cuts Position in International Game Technology PLC (NYSE:IGT)

Balyasny Asset Management L.P. reduced its position in International Game Technology PLC (NYSE:IGT - Free Report) by 40.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,092,043 shares of the company's stock after selling 734,841 shares during the quarter. Balyasny Asset Management L.P. owned 0.55% of International Game Technology worth $19,285,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC grew its position in International Game Technology by 49.1% during the third quarter. Barclays PLC now owns 291,626 shares of the company's stock valued at $6,212,000 after acquiring an additional 96,019 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of International Game Technology by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company's stock valued at $990,000 after purchasing an additional 1,442 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of International Game Technology during the 4th quarter valued at $45,000. Van ECK Associates Corp raised its position in International Game Technology by 5.1% in the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock worth $419,000 after purchasing an additional 1,145 shares during the period. Finally, Rhumbline Advisers boosted its position in International Game Technology by 2.0% during the fourth quarter. Rhumbline Advisers now owns 180,285 shares of the company's stock valued at $3,184,000 after buying an additional 3,611 shares during the period. 44.33% of the stock is currently owned by institutional investors.

International Game Technology Trading Down 0.2 %

NYSE IGT traded down $0.04 on Friday, hitting $17.23. The company's stock had a trading volume of 943,362 shares, compared to its average volume of 1,174,294. The firm has a market cap of $3.48 billion, a P/E ratio of 28.72 and a beta of 1.61. International Game Technology PLC has a 52-week low of $13.81 and a 52-week high of $24.13. The company's 50-day simple moving average is $16.43 and its 200 day simple moving average is $17.73. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.10). The business had revenue of $651.00 million during the quarter, compared to analysts' expectations of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business's revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. Research analysts predict that International Game Technology PLC will post 1.24 EPS for the current fiscal 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 issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.80 annualized dividend and a yield of 4.64%. International Game Technology's dividend payout ratio (DPR) is presently 46.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IGT. StockNews.com lowered International Game Technology from a "buy" rating to a "hold" rating in a research note on Monday, April 14th. Stifel Nicolaus dropped their price objective on International Game Technology from $26.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Truist Financial decreased 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, International Game Technology presently has an average rating of "Moderate Buy" and a consensus price target of $25.75.

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.