Rhumbline Advisers Has $3.78 Million Stock Holdings in International Game Technology PLC (NYSE:IGT)

Rhumbline Advisers boosted its stake in shares of International Game Technology PLC (NYSE:IGT) by 22.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 184,801 shares of the company’s stock after purchasing an additional 33,622 shares during the period. Rhumbline Advisers owned 0.09% of International Game Technology worth $3,781,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Concurrent Investment Advisors LLC bought a new stake in International Game Technology in the second quarter valued at approximately $1,185,000. Industrial Alliance Investment Management Inc. increased its stake in International Game Technology by 100.9% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock worth $47,000 after acquiring an additional 1,160 shares during the period. Peregrine Capital Management LLC increased its stake in International Game Technology by 1.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 628,653 shares of the company’s stock worth $12,862,000 after acquiring an additional 8,145 shares during the period. Allspring Global Investments Holdings LLC increased its stake in International Game Technology by 46.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 25,938 shares of the company’s stock worth $531,000 after acquiring an additional 8,269 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its stake in International Game Technology by 23.4% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 18,500 shares of the company’s stock worth $379,000 after acquiring an additional 3,510 shares during the period. Institutional investors own 44.33% of the company’s stock.

International Game Technology Stock Performance

Shares of International Game Technology stock opened at $21.70 on Tuesday. International Game Technology PLC has a one year low of $18.90 and a one year high of $32.91. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 20.66 and a beta of 1.96. The business has a 50-day simple moving average of $21.62 and a 200 day simple moving average of $21.18. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.84 and a quick ratio of 0.71.

International Game Technology (NYSE:IGT) last issued its earnings results on Tuesday, July 30th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company posted $0.45 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, research analysts anticipate that International Game Technology PLC will post 1.48 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.69%. International Game Technology’s payout ratio is presently 76.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IGT. Stifel Nicolaus raised their target price on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. B. Riley reaffirmed a “buy” rating and set a $30.00 target price on shares of International Game Technology in a report on Friday, July 26th. Finally, StockNews.com downgraded International Game Technology from a “buy” rating to a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, International Game Technology currently has an average rating of “Moderate Buy” and an average price target of $28.67.

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.