Massachusetts Financial Services Co. MA Grows Holdings in International Game Technology PLC (NYSE:IGT)

Massachusetts Financial Services Co. MA grew its stake in shares of International Game Technology PLC (NYSE:IGT) by 17.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,743,447 shares of the company’s stock after buying an additional 1,169,999 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.89% of International Game Technology worth $158,431,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. purchased a new stake in International Game Technology during the second quarter valued at about $44,000. General Partner Inc. bought a new position in shares of International Game Technology during the 1st quarter valued at about $45,000. Hexagon Capital Partners LLC raised its holdings in shares of International Game Technology by 1,633.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company’s stock valued at $45,000 after buying an additional 2,091 shares in the last quarter. CWM LLC lifted its position in International Game Technology by 156.7% in the 2nd quarter. CWM LLC now owns 2,321 shares of the company’s stock worth $47,000 after buying an additional 1,417 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its stake 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 worth $47,000 after buying an additional 1,160 shares in the last quarter. 44.33% of the stock is owned by institutional investors.

International Game Technology Trading Up 0.6 %

NYSE:IGT opened at $21.83 on Wednesday. The firm has a market capitalization of $4.35 billion, a P/E ratio of 20.79 and a beta of 1.96. International Game Technology PLC has a 52 week low of $18.90 and a 52 week high of $32.91. The company has a quick ratio of 0.71, a current ratio of 0.84 and a debt-to-equity ratio of 2.57. The company has a fifty day moving average of $21.66 and a 200 day moving average of $21.15.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, research analysts predict that International Game Technology PLC will post 1.48 earnings per share 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 paid 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 3.66%. International Game Technology’s dividend payout ratio (DPR) is presently 76.19%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. B. Riley reiterated a “buy” rating and issued a $30.00 target price on shares of International Game Technology in a research report on Friday, July 26th. Finally, Stifel Nicolaus upped their price target on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.67.

International Game Technology Company 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.