Stifel Financial Corp Boosts Position in International Game Technology PLC (NYSE:IGT)

Stifel Financial Corp lifted its position in International Game Technology PLC (NYSE:IGT) by 22.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,179 shares of the company’s stock after purchasing an additional 10,193 shares during the quarter. Stifel Financial Corp’s holdings in International Game Technology were worth $1,197,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IGT. Massachusetts Financial Services Co. MA boosted its holdings in International Game Technology by 0.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock valued at $165,946,000 after purchasing an additional 47,442 shares during the last quarter. FMR LLC raised its position in shares of International Game Technology by 19.4% during the 3rd quarter. FMR LLC now owns 3,050,447 shares of the company’s stock valued at $64,975,000 after buying an additional 495,962 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in International Game Technology by 75.5% in the second quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock valued at $47,343,000 after acquiring an additional 995,570 shares during the last quarter. Solel Partners LP purchased a new position in International Game Technology in the second quarter worth approximately $43,478,000. Finally, Long Pond Capital LP acquired a new stake in International Game Technology during the second quarter worth $32,053,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

International Game Technology Stock Up 0.9 %

Shares of NYSE IGT opened at $17.22 on Monday. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The business’s 50 day moving average is $19.80 and its two-hundred day moving average is $20.72. International Game Technology PLC has a 52-week low of $16.96 and a 52-week high of $27.89. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 28.70 and a beta of 1.91.

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

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Tuesday, November 26th. International Game Technology’s payout ratio is 133.33%.

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.