Mackenzie Financial Corp Sells 615 Shares of International Game Technology PLC (NYSE:IGT)

Mackenzie Financial Corp lessened its stake in shares of International Game Technology PLC (NYSE:IGT) by 3.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,268 shares of the company’s stock after selling 615 shares during the period. Mackenzie Financial Corp’s holdings in International Game Technology were worth $394,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Blue Trust Inc. bought a new stake in shares of International Game Technology during the 2nd quarter worth approximately $44,000. General Partner Inc. bought a new stake in International Game Technology during the first quarter worth $45,000. Hexagon Capital Partners LLC lifted its stake in International Game Technology by 1,633.6% in the second quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company’s stock valued at $45,000 after acquiring an additional 2,091 shares during the last quarter. CWM LLC grew its position in shares of International Game Technology by 156.7% in the 2nd quarter. CWM LLC now owns 2,321 shares of the company’s stock valued at $47,000 after acquiring an additional 1,417 shares during the period. Finally, Industrial Alliance Investment Management Inc. increased its stake in shares of 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 purchasing an additional 1,160 shares during the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Price Performance

International Game Technology stock opened at $20.78 on Friday. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 19.79 and a beta of 1.95. The stock’s 50 day moving average is $21.75 and its 200-day moving average is $21.01. The company has a current ratio of 0.84, a quick ratio of 0.71 and a debt-to-equity ratio of 2.57. International Game Technology PLC has a 12 month low of $18.90 and a 12 month high of $31.85.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping 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 company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Equities research analysts expect that International Game Technology PLC will post 1.48 EPS for the current 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.85%. International Game Technology’s dividend payout ratio is presently 76.19%.

Analysts Set New Price Targets

IGT has been the subject of several recent analyst reports. B. Riley reiterated a “buy” rating and issued a $30.00 target price on shares of International Game Technology in a research note on Friday, July 26th. Stifel Nicolaus lifted their target price on International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut International Game Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.67.

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.