PharVision Advisers LLC Invests $427,000 in International Game Technology PLC (NYSE:IGT)

PharVision Advisers LLC acquired a new stake in International Game Technology PLC (NYSE:IGT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,189 shares of the company's stock, valued at approximately $427,000.

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

International Game Technology Trading Up 0.4%

NYSE IGT traded up $0.06 during mid-day trading on Monday, reaching $15.26. 2,194,158 shares of the stock were exchanged, compared to its average volume of 1,267,758. The stock has a market capitalization of $3.08 billion, a PE ratio of 25.43 and a beta of 1.61. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. International Game Technology PLC has a 1-year low of $13.81 and a 1-year high of $24.13. The business's fifty day simple moving average is $16.21 and its 200 day simple moving average is $17.36.

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

International Game Technology Dividend Announcement

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. This represents a $0.80 annualized dividend and a yield of 5.24%. The ex-dividend date is Thursday, May 29th. International Game Technology's dividend payout ratio (DPR) is 55.56%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Susquehanna reissued a "positive" rating and set a $25.00 price objective (down from $30.00) on shares of International Game Technology in a research note on Wednesday, May 14th. Stifel Nicolaus reiterated a "buy" rating and set a $20.00 target price (down previously from $22.00) on shares of International Game Technology in a report on Wednesday, May 21st. Wall Street Zen cut International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Truist Financial reduced their price objective 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. Finally, Argus cut International Game Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.