Millennium Management LLC Grows Position in International Game Technology PLC (NYSE:IGT)

Millennium Management LLC raised its holdings in International Game Technology PLC (NYSE:IGT - Free Report) by 181.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,333 shares of the company's stock after purchasing an additional 258,897 shares during the quarter. Millennium Management LLC owned 0.20% of International Game Technology worth $7,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of International Game Technology during the 4th quarter valued at $45,000. Sterling Capital Management LLC lifted its position in shares of International Game Technology by 782.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company's stock valued at $55,000 after buying an additional 2,770 shares during the last quarter. Quarry LP lifted its position in shares of International Game Technology by 103.9% during the 4th quarter. Quarry LP now owns 6,185 shares of the company's stock valued at $109,000 after buying an additional 3,151 shares during the last quarter. Cibc World Markets Corp purchased a new position in shares of International Game Technology during the 4th quarter valued at $188,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of International Game Technology by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock valued at $210,000 after buying an additional 655 shares during the last quarter. Institutional investors own 44.33% of the company's stock.

Wall Street Analyst Weigh In

IGT has been the topic of a number of recent research reports. Argus cut International Game Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Susquehanna reaffirmed a "positive" rating and set a $25.00 price target (down previously from $30.00) on shares of International Game Technology in a research report on Wednesday, May 14th. Truist Financial dropped their price target on International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus reaffirmed a "buy" rating and set a $20.00 price target (down previously from $22.00) on shares of International Game Technology in a research report on Wednesday, May 21st. Finally, Wall Street Zen cut International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, International Game Technology currently has an average rating of "Moderate Buy" and an average target price of $23.25.

International Game Technology Price Performance

IGT traded down $0.21 during trading on Friday, reaching $14.75. 2,677,401 shares of the company were exchanged, compared to its average volume of 1,281,812. The company's 50-day moving average is $16.02 and its two-hundred day moving average is $17.18. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 24.58 and a beta of 1.61. The company has a quick ratio of 2.31, a current ratio of 2.36 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 issued its quarterly earnings data 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). The company had revenue of $583.00 million for the quarter, compared to analysts' expectations of $630.30 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. Research analysts forecast that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.80 annualized dividend and a dividend yield of 5.42%. International Game Technology's payout ratio is currently 55.56%.

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.