Intech Investment Management LLC Takes Position in International Game Technology PLC (NYSE:IGT)

Intech Investment Management LLC purchased a new stake in shares of International Game Technology PLC (NYSE:IGT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,493 shares of the company’s stock, valued at approximately $500,000.

Several other institutional investors have also bought and sold shares of IGT. Signaturefd LLC purchased a new position in International Game Technology during the third quarter valued at approximately $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Game Technology during the 2nd quarter valued at about $31,000. Blue Trust Inc. bought a new stake in shares of International Game Technology during the second quarter valued at approximately $44,000. Hexagon Capital Partners LLC lifted its holdings 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 valued at $45,000 after purchasing an additional 2,091 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. increased its holdings in shares of International Game Technology by 100.9% during the second quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock valued at $47,000 after acquiring an additional 1,160 shares in the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Trading Down 0.5 %

Shares of NYSE:IGT opened at $19.23 on Monday. The company has a market capitalization of $3.83 billion, a PE ratio of 32.05 and a beta of 1.96. The business’s fifty day simple moving average is $20.44 and its 200-day simple moving average is $20.86. International Game Technology PLC has a 12-month low of $18.56 and a 12-month high of $28.82. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $587.00 million for the quarter, compared to analyst estimates of $591.50 million. During the same period in the prior year, the firm posted $0.52 EPS. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts predict that International Game Technology PLC will post 1 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Tuesday, November 26th. International Game Technology’s dividend payout ratio is currently 133.34%.

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.