Deprince Race & Zollo Inc. Grows Stake in International Game Technology PLC (NYSE:IGT)

Deprince Race & Zollo Inc. increased its holdings in shares of International Game Technology PLC (NYSE:IGT) by 75.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,313,954 shares of the company’s stock after acquiring an additional 995,570 shares during the quarter. International Game Technology comprises approximately 1.1% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 24th largest holding. Deprince Race & Zollo Inc.’s holdings in International Game Technology were worth $47,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of International Game Technology by 10.4% in the 4th quarter. Principal Financial Group Inc. now owns 12,545 shares of the company’s stock valued at $344,000 after buying an additional 1,186 shares during the last quarter. Norges Bank purchased a new stake in shares of International Game Technology in the 4th quarter valued at about $35,011,000. Congress Wealth Management LLC DE acquired a new stake in shares of International Game Technology in the 4th quarter valued at about $432,000. Campbell & CO Investment Adviser LLC purchased a new position in International Game Technology during the 4th quarter worth approximately $1,776,000. Finally, Capital Research Global Investors lifted its stake 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 buying an additional 3,129,559 shares during the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Stock Down 0.5 %

International Game Technology stock opened at $21.17 on Thursday. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 20.16 and a beta of 1.96. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.71 and a current ratio of 0.84. International Game Technology PLC has a fifty-two week low of $18.90 and a fifty-two week high of $31.85. The stock’s fifty day moving average is $21.74 and its two-hundred day moving average is $21.04.

International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. Analysts predict that International Game Technology PLC will post 1.48 EPS for the current fiscal year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Tuesday, August 13th. International Game Technology’s payout ratio is currently 76.19%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in 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 reaffirmed a “buy” rating and set a $30.00 price objective on shares of International Game Technology in a research report on Friday, July 26th. Finally, Stifel Nicolaus boosted their target price on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Game Technology presently has an average rating of “Moderate Buy” and an average price target of $28.67.

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.