Acadian Asset Management LLC Takes $107,000 Position in International Game Technology PLC (NYSE:IGT)

Acadian Asset Management LLC bought a new position in shares of International Game Technology PLC (NYSE:IGT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,275 shares of the company’s stock, valued at approximately $107,000.

Several other hedge funds have also recently bought and sold shares of IGT. Lazard Asset Management LLC increased its position in shares of International Game Technology by 63.4% in the first quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company’s stock worth $242,880,000 after acquiring an additional 4,170,813 shares in the last quarter. Capital Research Global Investors raised its position in International Game Technology by 102.1% in the fourth quarter. Capital Research Global Investors now owns 6,193,990 shares of the company’s stock valued at $169,777,000 after purchasing an additional 3,129,559 shares during the period. Norges Bank purchased a new position in International Game Technology in the fourth quarter valued at about $35,011,000. Parsifal Capital Management LP lifted its stake in shares of International Game Technology by 40.8% during the fourth quarter. Parsifal Capital Management LP now owns 4,290,025 shares of the company’s stock worth $117,590,000 after purchasing an additional 1,243,514 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of International Game Technology by 6.4% in the first quarter. Bank of New York Mellon Corp now owns 13,871,989 shares of the company’s stock worth $313,368,000 after buying an additional 838,622 shares during the period. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Analysts Set New Price Targets

IGT has been the topic of several analyst reports. B. Riley reiterated a “buy” rating and set a $30.00 target price on shares of International Game Technology in a report on Friday, July 26th. Stifel Nicolaus boosted their target price on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.67.

International Game Technology Stock Performance

International Game Technology stock opened at $21.67 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.71 and a debt-to-equity ratio of 2.57. The stock has a 50 day moving average of $21.75 and a 200-day moving average of $21.12. The stock has a market cap of $4.31 billion, a P/E ratio of 20.64 and a beta of 1.96. International Game Technology PLC has a 52 week low of $18.90 and a 52 week high of $31.85.

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

International Game Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.69%. The ex-dividend date was Tuesday, August 13th. International Game Technology’s dividend payout ratio is currently 76.19%.

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.