Man Group plc Sells 48,008 Shares of International Game Technology PLC (NYSE:IGT)

Man Group plc decreased its position in International Game Technology PLC (NYSE:IGT - Free Report) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 476,226 shares of the company's stock after selling 48,008 shares during the period. Man Group plc owned about 0.24% of International Game Technology worth $8,410,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Barclays PLC lifted its holdings in International Game Technology by 49.1% during the 3rd quarter. Barclays PLC now owns 291,626 shares of the company's stock worth $6,212,000 after buying an additional 96,019 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in International Game Technology in the fourth quarter valued at about $45,000. Van ECK Associates Corp lifted its stake in shares of International Game Technology by 5.1% in the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock valued at $419,000 after purchasing an additional 1,145 shares during the period. Rhumbline Advisers lifted its stake in shares of International Game Technology by 2.0% in the fourth quarter. Rhumbline Advisers now owns 180,285 shares of the company's stock valued at $3,184,000 after purchasing an additional 3,611 shares during the period. Finally, Peregrine Capital Management LLC raised its position in International Game Technology by 1.7% during the fourth quarter. Peregrine Capital Management LLC now owns 640,864 shares of the company's stock worth $11,318,000 after acquiring an additional 10,901 shares during the last quarter. Institutional investors and hedge funds own 44.33% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on IGT. Wall Street Zen downgraded shares of International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Truist Financial lowered 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 research report on Wednesday, April 23rd. Stifel Nicolaus reiterated a "buy" rating and issued a $20.00 target price (down previously from $22.00) on shares of International Game Technology in a research report on Wednesday. Argus lowered shares of International Game Technology from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, Susquehanna reissued a "positive" rating and issued a $25.00 price target (down from $30.00) on shares of International Game Technology in a research report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.25.

International Game Technology Stock Up 1.4%

Shares of NYSE IGT traded up $0.21 during trading hours on Thursday, hitting $15.20. The company had a trading volume of 1,660,879 shares, compared to its average volume of 1,262,103. The firm's 50 day moving average is $16.28 and its 200-day moving average is $17.48. International Game Technology PLC has a 1-year low of $13.81 and a 1-year high of $24.13. The stock has a market capitalization of $3.07 billion, a P/E ratio of 25.33 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 (NYSE:IGT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.05). The company had revenue of $583.00 million during the quarter, compared to the consensus estimate of $630.30 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. On average, analysts expect that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.80 annualized dividend and a dividend yield of 5.26%. International Game Technology's dividend payout ratio is 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.