SG Americas Securities LLC cut its stake in International Game Technology PLC (NYSE: IGT – Get Rating ) by 71.9% during the third quarter, according to the company’s most recent 13F filing with the Securities and Exchange Commission (SEC). . The fund held 17,256 shares of the company after selling 44,202 shares during the period. SG Americas Securities LLC’s stake in International Game Technology was valued at $273,000 at the end of the most recent quarter.
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Many other hedge funds and other institutional investors have also bought and sold IGT shares recently. Parkside Financial Bank & Trust increased its stake in International Game Technology by 84.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company worth $29,000 after buying an additional 534 shares last quarter. Captrust Financial Advisors increased its position in International Game Technology by 9.8% in the second quarter. Captrust Financial Advisors now owns 6,582 shares of the company worth $122,000 after buying an additional 586 shares last quarter. Envestnet Asset Management increased its stake in International Game Technology by 1.3% in the second quarter. Envestnet Asset Management now owns 54,380 shares of the company, worth $1,009,000, after purchasing an additional 689 shares during the period. Atlantis Life Insurance Co. Can increased its stake in International Game Technology by 35.1% in the first quarter. Atlantis Life Insurance Can now owns 4,031 shares of the company worth $106,000 after acquiring an additional 1,048 shares last quarter. Finally, Rhumbline Advisers increased its position in International Game Technology by 1.6% during the first quarter. Rhumbline Advisers now owns 103,240 shares of the company worth $2,548,000 after purchasing an additional 1,616 shares during that period. 44.33% of shares are held by institutional investors and hedge funds.
Analyst sets new price target
Separately, StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong buy” rating in a research report on Tuesday, November 15th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $35.00.
International game technology stocks fell 2.6%
NYSE: IGT opened at $25.98 on Tuesday. The company’s 50-day moving average is $24.12 and its 200-day moving average is $21.00. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 14.76, and a beta of 1.85. International Game Technology PLC had a 52-week low of $15.01 and a 52-week high of $30.84. The company’s debt-to-equity ratio is 2.64, the quick ratio is 1.01, and the current ratio is 1.16.
International Game Technology (NYSE: IGT – Get Rating ) last reported earnings results on Tuesday, November 8th. The company reported earnings per share (EPS) of $1.30 for the quarter, beating analysts’ consensus estimate of $0.24 by $1.06. International Game Technology’s return on equity was 24.78%, and its net profit margin was 8.56%. The company’s revenue for the quarter was $1.06 billion, compared with analysts’ expectations of $1.01 billion. In the same period last year, the company earned $0.31 per share. The company’s revenue rose 7.7% year-over-year. Analysts expect International Game Technology PLC to post earnings per share of 1.92 for the year.
International Game Technology Dividend Announcement
The company also recently declared a quarterly dividend, which is paid on Friday, December 9. Registered investors received a $0.20 dividend on Monday, November 28. This represents an annualized dividend of $0.80 and a yield of 3.08%. The ex-dividend date is Friday, November 25. International Game Technology’s current payout ratio is 45.45%.
International Gaming Technology Overview
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International Game Technology PLC is engaged in the design, manufacture and marketing of electronic gaming equipment, software and network systems. It operates through the Global Lottery, Global Gaming and Digital & Gaming segments. The Global Lottery segment is responsible for the global traditional lottery and iLottery business, including sales, operations, product development, technology and support.
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