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

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

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in International Game Technology in the fourth quarter worth approximately $25,616,000. Massachusetts Financial Services Co. MA lifted its stake in International Game Technology by 10.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company's stock worth $151,495,000 after acquiring an additional 787,543 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in International Game Technology by 283.6% in the fourth quarter. Fox Run Management L.L.C. now owns 71,033 shares of the company's stock worth $1,254,000 after acquiring an additional 52,516 shares during the last quarter. Deutsche Bank AG lifted its stake in International Game Technology by 9.3% in the fourth quarter. Deutsche Bank AG now owns 446,731 shares of the company's stock worth $7,889,000 after acquiring an additional 38,027 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 44.33% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial reduced 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. Susquehanna restated a "positive" rating and set a $25.00 price objective (down previously from $30.00) on shares of International Game Technology in a research report on Wednesday, May 14th. Stifel Nicolaus restated a "buy" rating and set a $20.00 price objective (down previously from $22.00) on shares of International Game Technology in a research report on Wednesday. Argus downgraded shares of International Game Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Wall Street Zen downgraded shares of International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.25.

International Game Technology Stock Performance

IGT stock traded up $0.06 on Friday, hitting $15.26. The company's stock had a trading volume of 2,194,158 shares, compared to its average volume of 1,267,758. The firm has a 50 day moving average of $16.21 and a two-hundred day moving average of $17.39. 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 cap of $3.08 billion, a price-to-earnings ratio of 25.43 and a beta of 1.61. 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 (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). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $583.00 million during the quarter, compared to analysts' expectations of $630.30 million. During the same quarter last year, the company earned $0.46 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts predict that International Game Technology PLC will post 1.24 EPS 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. Investors of record on Thursday, May 29th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.80 annualized dividend and a yield of 5.24%. International Game Technology's dividend payout ratio (DPR) is 55.56%.

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.