Renaissance Technologies LLC Acquires 4,500 Shares of International Game Technology PLC (NYSE:IGT)

Renaissance Technologies LLC increased its holdings in shares of International Game Technology PLC (NYSE:IGT) by 2.0% in the second quarter, Holdings Channel.com reports. The fund owned 230,000 shares of the company’s stock after buying an additional 4,500 shares during the quarter. Renaissance Technologies LLC’s holdings in International Game Technology were worth $4,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. bought a new stake in shares of International Game Technology during the 2nd quarter worth approximately $44,000. General Partner Inc. bought a new stake in International Game Technology during the 1st quarter valued at $45,000. Hexagon Capital Partners LLC raised its position in 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 purchasing an additional 2,091 shares in the last quarter. CWM LLC raised its position in International Game Technology by 156.7% during the 2nd quarter. CWM LLC now owns 2,321 shares of the company’s stock valued at $47,000 after purchasing an additional 1,417 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its position in International Game Technology by 100.9% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock valued at $47,000 after purchasing an additional 1,160 shares in the last quarter. 44.33% of the stock is owned by institutional investors.

International Game Technology Stock Performance

NYSE IGT opened at $21.72 on Friday. The stock has a 50-day moving average of $21.76 and a 200 day moving average of $21.05. International Game Technology PLC has a twelve month low of $18.90 and a twelve month high of $31.85. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 20.70 and a beta of 1.96. The company has a current ratio of 0.84, a quick ratio of 0.71 and a debt-to-equity ratio of 2.57.

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

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a $0.20 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.68%. International Game Technology’s dividend payout ratio (DPR) is presently 76.19%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $30.00 target price on shares of International Game Technology in a research report on Friday, July 26th. StockNews.com lowered International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, Stifel Nicolaus lifted their target price on 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 issued a buy rating to the company’s stock. According to data from MarketBeat, International Game Technology currently has an average rating of “Moderate Buy” and a consensus target price of $28.67.

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.