Boothbay Fund Management LLC Decreases Stock Holdings in International Game Technology PLC (NYSE:IGT)

Boothbay Fund Management LLC lessened its stake in International Game Technology PLC (NYSE:IGT - Free Report) by 34.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,107 shares of the company's stock after selling 31,361 shares during the period. Boothbay Fund Management LLC's holdings in International Game Technology were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of IGT. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of International Game Technology in the 4th quarter valued at about $45,000. Sterling Capital Management LLC boosted its holdings in shares of International Game Technology by 782.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,124 shares of the company's stock valued at $55,000 after acquiring an additional 2,770 shares during the period. Cibc World Markets Corp purchased a new position in shares of International Game Technology during the fourth quarter worth approximately $188,000. Summit Investment Advisors Inc. increased its holdings in shares of 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 acquiring an additional 655 shares during the period. Finally, Victory Capital Management Inc. raised its position in International Game Technology by 4.2% in the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock valued at $274,000 after purchasing an additional 622 shares during the last quarter. Institutional investors and hedge funds own 44.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial dropped their price objective on shares of International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus dropped their price target on International Game Technology from $26.00 to $22.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, StockNews.com cut International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, International Game Technology has an average rating of "Moderate Buy" and an average price target of $25.75.

International Game Technology Stock Performance

Shares of IGT stock traded up $0.10 during mid-day trading on Monday, hitting $16.74. The stock had a trading volume of 147,803 shares, compared to its average volume of 1,373,815. The firm has a market cap of $3.38 billion, a PE ratio of 27.90 and a beta of 1.61. The company's 50-day simple moving average is $16.51 and its 200-day simple moving average is $17.81. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. 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 announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $651.00 million during the quarter, compared to analysts' expectations of $657.84 million. During the same period in the prior year, the firm posted $0.56 EPS. International Game Technology's revenue for the quarter was down 4.4% compared to the same quarter last year. Sell-side 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 was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Tuesday, March 11th. International Game Technology's payout ratio is 46.78%.

International Game Technology Company 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.