Schonfeld Strategic Advisors LLC Boosts Stock Holdings in International Game Technology PLC (NYSE:IGT)

Schonfeld Strategic Advisors LLC increased its position in International Game Technology PLC (NYSE:IGT - Free Report) by 336.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,508 shares of the company's stock after acquiring an additional 69,009 shares during the period. Schonfeld Strategic Advisors LLC's holdings in International Game Technology were worth $1,581,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of IGT. Mirae Asset Global Investments Co. Ltd. bought a new stake in International Game Technology in the 4th quarter worth about $45,000. Sterling Capital Management LLC boosted its holdings in shares of International Game Technology by 782.5% during the 4th 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 last quarter. Quarry LP grew its stake in shares of International Game Technology by 103.9% in 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 period. Cibc World Markets Corp purchased a new position in shares of International Game Technology during the fourth quarter valued at approximately $188,000. Finally, Summit Investment Advisors Inc. lifted its position 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 valued at $210,000 after purchasing an additional 655 shares during the period. Hedge funds and other institutional investors own 44.33% of the company's stock.

International Game Technology Stock Performance

NYSE:IGT traded up $0.50 during mid-day trading on Monday, hitting $17.72. 341,414 shares of the company traded hands, compared to its average volume of 1,172,564. The stock's fifty day moving average price is $16.43 and its 200-day moving average price is $17.69. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. International Game Technology PLC has a one year low of $13.81 and a one year high of $24.13. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 29.47 and a beta of 1.61.

International Game Technology (NYSE:IGT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm 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 company posted $0.56 earnings per share. The company's revenue was down 4.4% compared to the same quarter last year. Research analysts anticipate that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a $0.20 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.52%. International Game Technology's payout ratio is 46.78%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com cut International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Truist Financial lowered their target price on International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus cut their price target 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, International Game Technology presently has an average rating of "Moderate Buy" and an average target price of $25.75.

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.