Quantinno Capital Management LP Invests $291,000 in International Game Technology PLC (NYSE:IGT)

Quantinno Capital Management LP purchased a new stake in International Game Technology PLC (NYSE:IGT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,472 shares of the company's stock, valued at approximately $291,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of International Game Technology during the 4th quarter worth approximately $45,000. Sterling Capital Management LLC lifted its holdings in shares of International Game Technology by 782.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company's stock worth $55,000 after acquiring an additional 2,770 shares during the period. Quarry LP lifted its holdings in shares of International Game Technology by 103.9% during the 4th quarter. Quarry LP now owns 6,185 shares of the company's stock worth $109,000 after acquiring an additional 3,151 shares during the period. Cibc World Markets Corp bought a new stake in shares of International Game Technology during the 4th quarter worth approximately $188,000. Finally, Summit Investment Advisors Inc. lifted its stake in International Game Technology by 5.8% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 44.33% of the company's stock.

International Game Technology Stock Down 3.2%

NYSE:IGT traded down $0.50 during trading hours on Thursday, reaching $14.95. The company had a trading volume of 3,080,256 shares, compared to its average volume of 1,277,816. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 24.92 and a beta of 1.61. The business's 50-day simple moving average is $16.11 and its two-hundred day simple moving average is $17.29. International Game Technology PLC has a twelve month low of $13.81 and a twelve month high of $24.13.

International Game Technology (NYSE:IGT - Get Free Report) last posted 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 analyst estimates of $630.30 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. On average, equities analysts expect that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The firm 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology's dividend payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Argus lowered shares of International Game Technology from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Susquehanna restated a "positive" rating and issued a $25.00 target price (down previously from $30.00) on shares of International Game Technology in a report on Wednesday, May 14th. Stifel Nicolaus restated a "buy" rating and issued a $20.00 target price (down previously from $22.00) on shares of International Game Technology in a report on Wednesday, May 21st. Finally, Truist Financial dropped their target price on shares of International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

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.