Two Sigma Advisers LP Grows Position in International Game Technology PLC (NYSE:IGT)

Two Sigma Advisers LP lifted its holdings in International Game Technology PLC (NYSE:IGT - Free Report) by 123.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,900 shares of the company's stock after buying an additional 26,500 shares during the period. Two Sigma Advisers LP's holdings in International Game Technology were worth $846,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of International Game Technology by 4.2% in the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock worth $274,000 after purchasing an additional 622 shares during the last quarter. Summit Investment Advisors Inc. boosted its position 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 buying an additional 655 shares during the period. Van ECK Associates Corp boosted its position in International Game Technology by 5.1% in the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock valued at $419,000 after buying an additional 1,145 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in International Game Technology in the 4th quarter valued at about $45,000. Finally, Sterling Capital Management LLC grew its holdings in 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 in the last quarter. Institutional investors own 44.33% of the company's stock.

International Game Technology Price Performance

IGT traded up $0.06 on Friday, hitting $14.65. 134,282 shares of the company's stock were exchanged, compared to its average volume of 1,296,407. The firm has a 50-day moving average price of $15.87 and a 200-day moving average price of $17.06. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 24.38 and a beta of 1.61. International Game Technology PLC has a fifty-two week low of $13.81 and a fifty-two week high of $24.13.

International Game Technology (NYSE:IGT - Get Free Report) last posted its 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). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company had revenue of $583.00 million during the quarter, compared to analyst estimates of $630.30 million. During the same period in the previous year, the company earned $0.46 EPS. The company's quarterly revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts anticipate 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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology's payout ratio is 55.56%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IGT. Wall Street Zen cut shares of International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Stifel Nicolaus reiterated a "buy" rating and set a $20.00 target price (down from $22.00) on shares of International Game Technology in a report on Wednesday, May 21st. 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. Susquehanna reiterated a "positive" rating and set a $25.00 price objective (down previously from $30.00) on shares of International Game Technology in a research note on Wednesday, May 14th. Finally, Argus lowered shares of International Game Technology from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.