International Game Technology PLC (NYSE:IGT) Shares Sold by Point72 DIFC Ltd

Point72 DIFC Ltd lessened its holdings in shares of International Game Technology PLC (NYSE:IGT) by 14.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,923 shares of the company’s stock after selling 2,061 shares during the period. Point72 DIFC Ltd’s holdings in International Game Technology were worth $244,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of International Game Technology by 6.4% during the 1st quarter. Bank of New York Mellon Corp now owns 13,871,989 shares of the company’s stock worth $313,368,000 after buying an additional 838,622 shares during the last quarter. Lazard Asset Management LLC lifted its position in International Game Technology by 63.4% in the first quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company’s stock valued at $242,880,000 after acquiring an additional 4,170,813 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in International Game Technology by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,743,447 shares of the company’s stock valued at $158,431,000 after acquiring an additional 1,169,999 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of International Game Technology by 102.1% during the fourth quarter. Capital Research Global Investors now owns 6,193,990 shares of the company’s stock worth $169,777,000 after purchasing an additional 3,129,559 shares during the last quarter. Finally, Parsifal Capital Management LP increased its position in shares of International Game Technology by 40.8% during the fourth quarter. Parsifal Capital Management LP now owns 4,290,025 shares of the company’s stock worth $117,590,000 after purchasing an additional 1,243,514 shares in the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.

International Game Technology Price Performance

International Game Technology stock opened at $21.76 on Friday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.84 and a quick ratio of 0.71. The business has a 50 day simple moving average of $21.74 and a 200-day simple moving average of $21.04. International Game Technology PLC has a 12 month low of $18.90 and a 12 month high of $31.85. The stock has a market capitalization of $4.33 billion, a PE ratio of 20.70 and a beta of 1.96.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.36 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 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. Equities analysts predict that International Game Technology PLC will post 1.48 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given 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 76.19%.

Wall Street Analyst Weigh In

IGT has been the subject of a number of research analyst 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 raised 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 research report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.