Oliver Lagore Vanvalin Investment Group Acquires New Position in International Game Technology PLC (NYSE:IGT)

Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Game Technology PLC (NYSE:IGT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,500 shares of the company’s stock, valued at approximately $31,000.

Several other large investors also recently added to or reduced their stakes in IGT. Blue Trust Inc. bought a new stake in International Game Technology in the second quarter worth approximately $44,000. General Partner Inc. bought a new stake in International Game Technology in the first quarter worth approximately $45,000. Hexagon Capital Partners LLC grew its position in International Game Technology by 1,633.6% in the second quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company’s stock worth $45,000 after acquiring an additional 2,091 shares in the last quarter. CWM LLC grew its position in International Game Technology by 156.7% in the second quarter. CWM LLC now owns 2,321 shares of the company’s stock worth $47,000 after acquiring an additional 1,417 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its position 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 acquiring an additional 1,160 shares in the last quarter. 44.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IGT has been the subject of several recent research reports. B. Riley reissued a “buy” rating and issued a $30.00 target price on shares of International Game Technology in a research 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 downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.67.

International Game Technology Price Performance

NYSE IGT opened at $21.73 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 company has a fifty day simple moving average of $21.78 and a 200 day simple moving average of $21.02. The company has a market cap of $4.33 billion, a P/E ratio of 20.70 and a beta of 1.96. International Game Technology PLC has a 1 year low of $18.90 and a 1 year high of $31.85.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The business 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 quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. On average, sell-side analysts predict that International Game Technology PLC will post 1.48 EPS for the current 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Tuesday, August 13th. International Game Technology’s payout ratio is currently 76.19%.

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.