Graham Capital Management L.P. Grows Stock Position in International Game Technology PLC (NYSE:IGT)

Graham Capital Management L.P. grew its position in International Game Technology PLC (NYSE:IGT - Free Report) by 476.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,610 shares of the company's stock after acquiring an additional 132,746 shares during the quarter. Graham Capital Management L.P. owned about 0.08% of International Game Technology worth $2,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IGT. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of International Game Technology in the fourth quarter valued at approximately $45,000. Sterling Capital Management LLC increased its stake in International Game Technology by 782.5% during the fourth 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 last quarter. Quarry LP increased its stake in International Game Technology by 103.9% during the fourth 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 last quarter. Cibc World Markets Corp acquired a new stake in International Game Technology during the fourth quarter worth $188,000. Finally, Summit Investment Advisors Inc. increased its stake in International Game Technology by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock worth $210,000 after acquiring an additional 655 shares during the last quarter. Hedge funds and other institutional investors own 44.33% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IGT shares. Stifel Nicolaus cut their target price on International Game Technology from $26.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. 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 note on Wednesday. Truist Financial cut their target price on International Game Technology from $20.00 to $18.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, StockNews.com cut International Game Technology from a "buy" rating to a "hold" rating in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.75.

International Game Technology Trading Up 3.4%

Shares of IGT traded up $0.55 during midday trading on Wednesday, hitting $16.74. 3,594,417 shares of the stock were exchanged, compared to its average volume of 1,215,753. International Game Technology PLC has a 52-week low of $13.81 and a 52-week high of $24.13. The stock has a fifty day simple moving average of $16.39 and a 200 day simple moving average of $17.65. The firm has a market cap of $3.38 billion, a P/E ratio of 27.90 and a beta of 1.61. 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 (NYSE:IGT - Get Free Report) last released its quarterly 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 return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $583.00 million for the quarter, compared to analysts' expectations of $630.30 million. On average, research analysts anticipate that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

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 issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.80 dividend on an annualized basis and a yield of 4.78%. International Game Technology's dividend payout ratio (DPR) is presently 46.78%.

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.