International Game Technology PLC (NYSE:IGT) Shares Purchased by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. grew its position in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 27.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,428,893 shares of the company's stock after purchasing an additional 305,912 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.72% of International Game Technology worth $25,234,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of International Game Technology by 10.1% in 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 in the last quarter. Solel Partners LP raised 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 valued at $54,007,000 after acquiring an additional 390,726 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of International Game Technology by 3.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,783,234 shares of the company's stock valued at $49,152,000 after acquiring an additional 98,502 shares in the last quarter. Norges Bank acquired a new stake in shares of International Game Technology in the fourth quarter valued at $25,616,000. Finally, Vanguard Group Inc. increased 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 valued at $23,461,000 after buying an additional 29,780 shares during the last quarter. 44.33% of the stock is currently owned by institutional investors and hedge funds.

International Game Technology Stock Performance

Shares of NYSE IGT traded down $0.13 during midday trading on Thursday, reaching $16.62. 1,334,387 shares of the company were exchanged, compared to its average volume of 1,216,226. 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 1 year low of $13.81 and a 1 year high of $24.13. The stock has a fifty day simple moving average of $16.38 and a 200 day simple moving average of $17.65. The stock has a market cap of $3.36 billion, a P/E ratio of 27.70 and a beta of 1.61.

International Game Technology (NYSE:IGT - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.05). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company had revenue of $583.00 million for the quarter, compared to analysts' expectations of $630.30 million. On average, research analysts forecast that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be given a $0.20 dividend. The ex-dividend date is Thursday, May 29th. This represents a $0.80 dividend on an annualized basis and a yield of 4.81%. International Game Technology's payout ratio is currently 46.78%.

Analysts Set New Price Targets

Several equities analysts recently commented on IGT shares. Truist Financial dropped their target price on International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus dropped their price objective 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. Susquehanna reaffirmed a "positive" rating and set a $25.00 price objective (down previously from $30.00) on shares of International Game Technology in a report on Wednesday. Finally, StockNews.com lowered International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Two investment 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 $23.75.

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.