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

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

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

International Game Technology Price Performance

IGT stock traded up $0.06 during mid-day trading on Friday, hitting $15.26. The stock had a trading volume of 2,194,158 shares, compared to its average volume of 1,267,758. 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 52 week low of $13.81 and a 52 week high of $24.13. The firm has a market capitalization of $3.08 billion, a P/E ratio of 25.43 and a beta of 1.61. The firm has a fifty day simple moving average of $16.21 and a 200 day simple moving average of $17.36.

International Game Technology (NYSE:IGT - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.05). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm had revenue of $583.00 million during the quarter, compared to the consensus estimate of $630.30 million. During the same period in the prior year, the business earned $0.46 earnings per share. International Game Technology's quarterly revenue was down 11.8% compared to the same quarter last year. As a group, research analysts forecast that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be paid a $0.20 dividend. The ex-dividend date is Thursday, May 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.24%. International Game Technology's payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IGT shares. Susquehanna reaffirmed a "positive" rating and issued a $25.00 target price (down previously from $30.00) on shares of International Game Technology in a research note on Wednesday, May 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 report on Wednesday, April 23rd. Stifel Nicolaus reiterated a "buy" rating and issued a $20.00 price target (down previously from $22.00) on shares of International Game Technology in a research note on Wednesday. Wall Street Zen lowered shares of International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Finally, Argus lowered shares of International Game Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Three 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

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.