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

Acadian Asset Management LLC purchased a new position in International Game Technology PLC (NYSE:IGT) during the 2nd quarter, HoldingsChannel reports. The firm purchased 5,275 shares of the company’s stock, valued at approximately $107,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in International Game Technology by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 184,801 shares of the company’s stock valued at $3,781,000 after purchasing an additional 33,622 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of International Game Technology during the second quarter worth approximately $1,185,000. Industrial Alliance Investment Management Inc. grew its holdings in International Game Technology by 100.9% in the 2nd 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. Peregrine Capital Management LLC increased its position in International Game Technology by 1.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 628,653 shares of the company’s stock valued at $12,862,000 after acquiring an additional 8,145 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in International Game Technology by 46.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 25,938 shares of the company’s stock valued at $531,000 after acquiring an additional 8,269 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on IGT shares. Stifel Nicolaus increased their price target 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. 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, StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, International Game Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.67.

International Game Technology Trading Down 1.2 %

Shares of International Game Technology stock opened at $21.67 on Friday. The business has a fifty day simple moving average of $21.75 and a 200-day simple moving average of $21.12. International Game Technology PLC has a fifty-two week low of $18.90 and a fifty-two week high of $31.85. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 20.64 and a beta of 1.96. The company has a quick ratio of 0.71, a current ratio of 0.84 and a debt-to-equity ratio of 2.57.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The company 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%. International Game Technology’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 EPS. On average, equities analysts forecast that International Game Technology PLC will post 1.48 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Tuesday, August 13th. International Game Technology’s payout ratio is 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.