Teza Capital Management LLC Takes Position in International Game Technology PLC (NYSE:IGT)

Teza Capital Management LLC acquired a new stake in International Game Technology PLC (NYSE:IGT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,063 shares of the company's stock, valued at approximately $354,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Point72 Hong Kong Ltd lifted its stake in shares of International Game Technology by 49.8% in the fourth quarter. Point72 Hong Kong Ltd now owns 115,105 shares of the company's stock valued at $2,033,000 after purchasing an additional 38,291 shares during the period. ProShare Advisors LLC lifted its stake in shares of International Game Technology by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 32,042 shares of the company's stock valued at $566,000 after purchasing an additional 10,543 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of International Game Technology in the fourth quarter valued at about $291,000. Mork Capital Management LLC acquired a new stake in shares of International Game Technology in the fourth quarter valued at about $1,035,000. Finally, Millennium Management LLC lifted its stake in shares of International Game Technology by 181.8% in the fourth quarter. Millennium Management LLC now owns 401,333 shares of the company's stock valued at $7,088,000 after purchasing an additional 258,897 shares during the period. Institutional investors and hedge funds own 44.33% of the company's stock.

Analysts Set New Price Targets

IGT has been the subject of several recent analyst reports. Argus cut shares of International Game Technology from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. 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. Stifel Nicolaus restated a "buy" rating and set a $20.00 target price (down previously from $22.00) on shares of International Game Technology in a research report on Wednesday. Truist Financial cut their target price 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. Finally, Susquehanna restated a "positive" rating and set a $25.00 target price (down previously from $30.00) on shares of International Game Technology in a research report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $23.25.

International Game Technology Price Performance

IGT traded up $0.06 during midday trading on Friday, reaching $15.26. 2,194,158 shares of the company's stock were exchanged, compared to its average volume of 1,266,743. The stock has a market capitalization of $3.08 billion, a PE ratio of 25.43 and a beta of 1.61. International Game Technology PLC has a 1-year low of $13.81 and a 1-year high of $24.13. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The business's 50-day moving average price is $16.21 and its 200 day moving average price is $17.41.

International Game Technology (NYSE:IGT - Get Free Report) last issued 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 firm had revenue of $583.00 million for the quarter, compared to analysts' expectations of $630.30 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, equities analysts anticipate that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 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.