International Game Technology PLC (NYSE:IGT) Shares Sold by Tpg Gp A LLC

TPG GP A LLC lowered its position in International Game Technology PLC (NYSE:IGT - Free Report) by 40.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,085,178 shares of the company's stock after selling 2,077,591 shares during the quarter. International Game Technology makes up about 0.9% of TPG GP A LLC's portfolio, making the stock its 22nd biggest position. TPG GP A LLC owned approximately 1.55% of International Game Technology worth $54,484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of IGT. Lazard Asset Management LLC lifted its holdings in shares of International Game Technology by 13.1% in the 4th quarter. Lazard Asset Management LLC now owns 10,927,433 shares of the company's stock worth $192,978,000 after buying an additional 1,267,625 shares during the period. 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 period. Solel Partners LP grew its holdings in International Game Technology by 14.6% during the 4th quarter. Solel Partners LP now owns 3,058,150 shares of the company's stock worth $54,007,000 after acquiring an additional 390,726 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in International Game Technology by 3.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,783,234 shares of the company's stock valued at $49,152,000 after purchasing an additional 98,502 shares during the period. Finally, Norges Bank purchased a new position in International Game Technology during the 4th quarter valued at about $25,616,000. Institutional investors own 44.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Truist Financial cut 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 research report on Wednesday, April 23rd. Argus downgraded shares of International Game Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Stifel Nicolaus reissued 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. Susquehanna reissued 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. 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, International Game Technology presently has a consensus rating of "Moderate Buy" and an average target price of $23.25.

International Game Technology Stock Up 0.4%

Shares of International Game Technology stock traded up $0.06 on Friday, reaching $15.26. The stock had a trading volume of 2,194,158 shares, compared to its average volume of 1,266,743. The company has a 50 day moving average price of $16.21 and a 200 day moving average price of $17.41. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. 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 capitalization of $3.08 billion, a P/E ratio of 25.43 and a beta of 1.61.

International Game Technology (NYSE:IGT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.05). The firm had revenue of $583.00 million during 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 firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. As a group, equities research analysts forecast that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date is Thursday, May 29th. 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.