Beryl Capital Management LLC Takes Position in International Game Technology PLC (NYSE:IGT)

Beryl Capital Management LLC acquired a new position in International Game Technology PLC (NYSE:IGT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 861,412 shares of the company's stock, valued at approximately $15,213,000. International Game Technology comprises approximately 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of International Game Technology during the 4th quarter worth $25,616,000. T. Rowe Price Investment Management Inc. acquired a new position in International Game Technology during the 4th quarter worth $19,453,000. Massachusetts Financial Services Co. MA boosted its holdings 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 acquiring an additional 787,543 shares during the period. Orvieto Partners L.P. acquired a new stake in shares of International Game Technology in the fourth quarter valued at about $8,292,000. Finally, Solel Partners LP increased its stake in shares of International Game Technology by 14.6% in the fourth quarter. Solel Partners LP now owns 3,058,150 shares of the company's stock worth $54,007,000 after purchasing an additional 390,726 shares during the period. Institutional investors own 44.33% of the company's stock.

Wall Street Analyst Weigh In

IGT has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on International Game Technology from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. StockNews.com lowered shares of International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Finally, Truist Financial reduced their price target on shares of International Game Technology from $20.00 to $18.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

International Game Technology Price Performance

IGT stock traded down $0.16 during trading on Friday, hitting $17.11. The company had a trading volume of 377,612 shares, compared to its average volume of 1,171,470. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The company has a fifty day moving average price of $16.43 and a two-hundred day moving average price of $17.75. International Game Technology PLC has a fifty-two week low of $13.81 and a fifty-two week high of $24.13. The company has a market cap of $3.46 billion, a P/E ratio of 28.52 and a beta of 1.61.

International Game Technology (NYSE:IGT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.10). The firm had revenue of $651.00 million for the quarter, compared to the consensus estimate of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. International Game Technology's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 earnings per share. Equities research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Tuesday, March 11th. International Game Technology's payout ratio is presently 46.78%.

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.