American Century Companies Inc. Reduces Holdings in International Game Technology PLC (NYSE:IGT)

American Century Companies Inc. lessened its position in shares of International Game Technology PLC (NYSE:IGT) by 34.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,693 shares of the company’s stock after selling 7,661 shares during the quarter. American Century Companies Inc.’s holdings in International Game Technology were worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new position in shares of International Game Technology in the second quarter valued at approximately $44,000. General Partner Inc. acquired a new position in shares of International Game Technology in the first quarter worth $45,000. Hexagon Capital Partners LLC increased its position in shares of International Game Technology by 1,633.6% during the second quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company’s stock worth $45,000 after acquiring an additional 2,091 shares during the period. CWM LLC raised its stake in shares of International Game Technology by 156.7% in the second quarter. CWM LLC now owns 2,321 shares of the company’s stock valued at $47,000 after acquiring an additional 1,417 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its holdings in International Game Technology by 100.9% in the second quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock valued at $47,000 after purchasing an additional 1,160 shares during the period. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. B. Riley reaffirmed a “buy” rating and issued a $30.00 price target on shares of International Game Technology in a research report on Friday, July 26th. StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Finally, Stifel Nicolaus raised their price objective on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Game Technology has an average rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Stock Performance

Shares of International Game Technology stock opened at $20.78 on Friday. The firm has a market capitalization of $4.14 billion, a P/E ratio of 19.79 and a beta of 1.95. The company has a quick ratio of 0.71, a current ratio of 0.84 and a debt-to-equity ratio of 2.57. International Game Technology PLC has a 52 week low of $18.90 and a 52 week high of $31.85. The firm’s 50 day moving average is $21.75 and its two-hundred day moving average is $21.00.

International Game Technology (NYSE:IGT) last posted 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 net margin of 4.89% and a return on equity of 19.95%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted $0.45 EPS. The company’s revenue was down .6% on a year-over-year basis. Research analysts forecast that International Game Technology PLC will post 1.48 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Tuesday, August 13th. International Game Technology’s payout ratio is currently 76.19%.

International Game Technology 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.