Intech Investment Management LLC Invests $500,000 in International Game Technology PLC (NYSE:IGT)

Intech Investment Management LLC purchased a new position in shares of International Game Technology PLC (NYSE:IGT) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 23,493 shares of the company’s stock, valued at approximately $500,000.

Several other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in shares of International Game Technology by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,743,447 shares of the company’s stock worth $158,431,000 after purchasing an additional 1,169,999 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of International Game Technology by 75.5% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock worth $47,343,000 after acquiring an additional 995,570 shares during the period. Solel Partners LP acquired a new stake in shares of International Game Technology in the second quarter worth approximately $43,478,000. Long Pond Capital LP purchased a new stake in International Game Technology in the second quarter valued at approximately $32,053,000. Finally, Stanley Capital Management LLC increased its position in International Game Technology by 12.9% during the second quarter. Stanley Capital Management LLC now owns 702,000 shares of the company’s stock worth $14,363,000 after purchasing an additional 80,000 shares during the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Trading Down 0.5 %

Shares of NYSE:IGT opened at $19.23 on Monday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 32.05 and a beta of 1.96. International Game Technology PLC has a 1-year low of $18.56 and a 1-year high of $28.82. The company has a 50 day moving average price of $20.44 and a 200 day moving average price of $20.86.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $587.00 million during the quarter, compared to analyst estimates of $591.50 million. During the same period in the prior year, the business posted $0.52 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, research analysts anticipate that International Game Technology PLC will post 1 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Tuesday, November 26th. International Game Technology’s dividend payout ratio (DPR) is presently 133.34%.

Analyst Ratings Changes

Separately, StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.