Point72 Hong Kong Ltd Has $2.03 Million Position in International Game Technology PLC (NYSE:IGT)

Point72 Hong Kong Ltd increased its position in International Game Technology PLC (NYSE:IGT - Free Report) by 49.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,105 shares of the company's stock after purchasing an additional 38,291 shares during the period. Point72 Hong Kong Ltd owned 0.06% of International Game Technology worth $2,033,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. ProShare Advisors LLC grew its position in shares of International Game Technology by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 32,042 shares of the company's stock worth $566,000 after acquiring an additional 10,543 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of International Game Technology in the 4th quarter worth $291,000. Mork Capital Management LLC bought a new stake in shares of International Game Technology in the 4th quarter worth $1,035,000. Millennium Management LLC lifted its holdings in International Game Technology by 181.8% in the 4th quarter. Millennium Management LLC now owns 401,333 shares of the company's stock valued at $7,088,000 after acquiring an additional 258,897 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in International Game Technology by 6.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,337 shares of the company's stock valued at $1,172,000 after acquiring an additional 4,058 shares during the last quarter. Institutional investors own 44.33% of the company's stock.

International Game Technology Trading Down 5.0%

Shares of International Game Technology stock traded down $0.85 during trading on Monday, hitting $16.05. The stock had a trading volume of 3,720,483 shares, compared to its average volume of 1,236,097. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The company has a market capitalization of $3.24 billion, a PE ratio of 26.75 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 stock has a 50 day simple moving average of $16.35 and a 200 day simple moving average of $17.55.

International Game Technology (NYSE:IGT - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share (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 firm had revenue of $583.00 million for the quarter, compared to analyst estimates of $630.30 million. During the same period last year, the firm earned $0.46 earnings per share. International Game Technology's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, research analysts expect that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology's dividend payout ratio (DPR) is currently 55.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IGT. Stifel Nicolaus cut their price target on shares of International Game Technology from $26.00 to $22.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. StockNews.com downgraded shares of International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Truist Financial reduced their price objective 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, Susquehanna restated a "positive" rating and issued a $25.00 target price (down from $30.00) on shares of International Game Technology in a report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.75.

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.