Beryl Capital Management LLC Acquires New Holdings in International Game Technology PLC (NYSE:IGT)

Beryl Capital Management LLC bought a new position in shares of International Game Technology PLC (NYSE:IGT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 861,412 shares of the company's stock, valued at approximately $15,213,000. International Game Technology accounts for 3.5% of Beryl Capital Management LLC's holdings, making the stock its 6th largest position. Beryl Capital Management LLC owned 0.43% of International Game Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its position in shares of 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 worth $151,495,000 after purchasing an additional 787,543 shares in the last quarter. Solel Partners LP increased its position in 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 buying an additional 390,726 shares in the last quarter. Norges Bank purchased a new stake in International Game Technology in the fourth quarter valued at about $25,616,000. Vanguard Group Inc. boosted its holdings in International Game Technology by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 1,328,460 shares of the company's stock worth $23,461,000 after acquiring an additional 29,780 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of International Game Technology by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,601 shares of the company's stock worth $20,549,000 after acquiring an additional 31,408 shares during the last quarter. Institutional investors own 44.33% of the company's stock.

International Game Technology Stock Performance

Shares of NYSE IGT opened at $16.64 on Friday. The company has a 50 day simple moving average of $16.51 and a two-hundred day simple moving average of $17.83. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 27.73 and a beta of 1.61. 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 PLC has a 12 month low of $13.81 and a 12 month high of $24.13.

International Game Technology (NYSE:IGT - Get Free Report) last posted 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). The business 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%. International Game Technology's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 earnings per share. As a group, analysts predict that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The business 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 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Tuesday, March 11th. International Game Technology's payout ratio is presently 46.78%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. StockNews.com cut 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 price objective 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 target price on 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.75.

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.

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