Victory Capital Management Inc. Buys 622 Shares of International Game Technology PLC (NYSE:IGT)

Victory Capital Management Inc. increased its stake in International Game Technology PLC (NYSE:IGT) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,519 shares of the company’s stock after purchasing an additional 622 shares during the period. Victory Capital Management Inc.’s holdings in International Game Technology were worth $274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in International Game Technology during the fourth quarter valued at approximately $45,000. Point72 DIFC Ltd grew its position in International Game Technology by 7.9% during the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock valued at $274,000 after acquiring an additional 947 shares during the last quarter. Intech Investment Management LLC bought a new position in International Game Technology during the third quarter valued at approximately $500,000. Van ECK Associates Corp grew its position in International Game Technology by 5.1% during the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock valued at $419,000 after acquiring an additional 1,145 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in International Game Technology by 180.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 29,932 shares of the company’s stock valued at $638,000 after acquiring an additional 19,247 shares during the last quarter. 44.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IGT. Truist Financial cut their target price on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

International Game Technology Stock Performance

Shares of International Game Technology stock opened at $17.04 on Friday. International Game Technology PLC has a 12 month low of $16.42 and a 12 month high of $24.13. The firm has a market capitalization of $3.44 billion, a P/E ratio of 28.39 and a beta of 1.86. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The business has a fifty day simple moving average of $17.30 and a two-hundred day simple moving average of $18.97.

International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $651.00 million for the quarter, compared to the consensus estimate of $657.84 million. During the same quarter last year, the firm posted $0.56 EPS. The business’s quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts forecast that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Tuesday, March 11th. International Game Technology’s payout ratio is 46.78%.

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.