Tpg Gp A LLC Sells 2,077,591 Shares of International Game Technology PLC (NYSE:IGT)

Tpg Gp A LLC lessened its position in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 40.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,085,178 shares of the company's stock after selling 2,077,591 shares during the period. International Game Technology makes up about 0.9% of Tpg Gp A LLC's holdings, making the stock its 22nd biggest position. Tpg Gp A LLC owned 1.55% of International Game Technology worth $54,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in International Game Technology during the 4th quarter worth approximately $25,616,000. Massachusetts Financial Services Co. MA increased its holdings in shares of International Game Technology by 10.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company's stock worth $151,495,000 after buying an additional 787,543 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in shares of International Game Technology by 283.6% in the 4th quarter. Fox Run Management L.L.C. now owns 71,033 shares of the company's stock worth $1,254,000 after buying an additional 52,516 shares during the last quarter. Barclays PLC increased its holdings in shares of International Game Technology by 49.1% in 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. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of International Game Technology by 54.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 265,098 shares of the company's stock worth $4,682,000 after buying an additional 93,553 shares during the last quarter. Institutional investors own 44.33% of the company's stock.

International Game Technology Price Performance

IGT stock opened at $16.88 on Monday. 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 52 week low of $13.81 and a 52 week high of $24.13. The firm's fifty day moving average is $16.35 and its 200 day moving average is $17.55. The firm has a market cap of $3.41 billion, a P/E ratio of 28.13 and a beta of 1.61.

International Game Technology (NYSE:IGT - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $630.30 million. During the same period in the prior year, the business posted $0.46 EPS. International Game Technology's revenue for the quarter was down 11.8% on a year-over-year basis. Research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology's dividend payout ratio is currently 55.56%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IGT shares. Susquehanna reissued a "positive" rating and issued a $25.00 price target (down previously from $30.00) on shares of International Game Technology in a report on Wednesday. Stifel Nicolaus decreased their price target on shares of International Game Technology from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. StockNews.com lowered shares of International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Finally, Truist Financial decreased their price target 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, International Game Technology presently has an average rating of "Moderate Buy" and a consensus target price of $23.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.