Nebula Research & Development LLC Acquires 18,913 Shares of International Game Technology PLC (NYSE:IGT)

Nebula Research & Development LLC raised its position in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 70.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,605 shares of the company's stock after purchasing an additional 18,913 shares during the period. Nebula Research & Development LLC's holdings in International Game Technology were worth $805,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in International Game Technology in the fourth quarter valued at about $45,000. Sterling Capital Management LLC grew 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 purchasing an additional 2,770 shares during the last quarter. Cibc World Markets Corp acquired a new position in International Game Technology during the 4th quarter worth approximately $188,000. Summit Investment Advisors Inc. lifted its stake 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 purchasing an additional 655 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in International Game Technology by 4.2% in the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock valued at $274,000 after buying an additional 622 shares in the last quarter. 44.33% of the stock is currently owned by institutional investors.

International Game Technology Trading Up 1.3 %

IGT traded up $0.22 during midday trading on Friday, hitting $16.64. 800,492 shares of the company were exchanged, compared to its average volume of 1,171,599. The firm's 50 day moving average price is $16.51 and its 200-day moving average price is $17.83. International Game Technology PLC has a 1-year low of $13.81 and a 1-year high of $24.13. The firm has a market capitalization of $3.36 billion, a P/E ratio of 27.73 and a beta of 1.61. 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 (NYSE:IGT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.10). The company had revenue of $651.00 million during the quarter, compared to analyst estimates of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. International Game Technology's revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. As a group, equities analysts forecast that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Tuesday, March 11th. International Game Technology's dividend payout ratio is presently 46.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Truist Financial dropped their price target 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. StockNews.com downgraded International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Finally, Stifel Nicolaus lowered their price objective 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.