International Game Technology (NYSE:IGT) Shares Acquired by Peregrine Capital Management LLC

Peregrine Capital Management LLC lifted its stake in shares of International Game Technology (NYSE:IGT - Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 662,714 shares of the company's stock after purchasing an additional 21,850 shares during the period. Peregrine Capital Management LLC owned about 0.33% of International Game Technology worth $10,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of IGT. Allspring Global Investments Holdings LLC increased its position in shares of International Game Technology by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,111 shares of the company's stock worth $408,000 after purchasing an additional 8,805 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in International Game Technology by 71.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,511 shares of the company's stock worth $73,000 after purchasing an additional 1,879 shares during the last quarter. Inlight Wealth Management LLC purchased a new stake in shares of International Game Technology during the first quarter worth $85,000. Harbor Capital Advisors Inc. grew its holdings in shares of International Game Technology by 30.0% during the first quarter. Harbor Capital Advisors Inc. now owns 72,851 shares of the company's stock worth $1,185,000 after buying an additional 16,803 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of International Game Technology by 7,771.0% in the first quarter. GAMMA Investing LLC now owns 5,431 shares of the company's stock valued at $880,000 after buying an additional 5,362 shares during the last quarter. Institutional investors and hedge funds own 44.33% of the company's stock.

International Game Technology Trading Up 4.3%

IGT stock traded up $0.68 during trading on Wednesday, reaching $16.49. 3,545,195 shares of the stock were exchanged, compared to its average volume of 1,328,820. The company has a current ratio of 2.48, a quick ratio of 2.43 and a debt-to-equity ratio of 2.74. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 11.45 and a beta of 1.52. The business has a 50 day moving average price of $15.73 and a 200-day moving average price of $16.54. International Game Technology has a 1 year low of $13.81 and a 1 year high of $24.13.

International Game Technology (NYSE:IGT - Get Free Report) last released its quarterly 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). The firm had revenue of $583.00 million for the quarter, compared to analysts' expectations of $630.30 million. International Game Technology had a net margin of 11.46% and a return on equity of 7.86%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS. On average, research analysts predict that International Game Technology will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Thursday, May 29th. International Game Technology's dividend payout ratio is presently 55.56%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus restated a "buy" rating and set a $20.00 price target (down from $22.00) on shares of International Game Technology in a research report on Wednesday, May 21st. Wall Street Zen raised shares of International Game Technology from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Truist Financial dropped their price target on 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. Susquehanna reaffirmed a "positive" rating and issued a $25.00 price target (down previously from $30.00) on shares of International Game Technology in a report on Wednesday, May 14th. Finally, Argus lowered International Game Technology from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.