BBR Partners LLC Raises Stock Holdings in International Game Technology PLC (NYSE:IGT)

BBR Partners LLC increased its position in International Game Technology PLC (NYSE:IGT) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,000 shares of the company’s stock after purchasing an additional 5,000 shares during the period. BBR Partners LLC’s holdings in International Game Technology were worth $618,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in International Game Technology in the fourth quarter worth $630,000. Victory Capital Management Inc. grew its stake in shares of International Game Technology by 4.2% in the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company’s stock worth $274,000 after acquiring an additional 622 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of International Game Technology by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,601 shares of the company’s stock worth $20,549,000 after acquiring an additional 31,408 shares during the last quarter. Peregrine Capital Management LLC grew its stake in shares of International Game Technology by 1.7% in the fourth quarter. Peregrine Capital Management LLC now owns 640,864 shares of the company’s stock worth $11,318,000 after acquiring an additional 10,901 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of International Game Technology by 2.0% in the fourth quarter. Rhumbline Advisers now owns 180,285 shares of the company’s stock worth $3,184,000 after acquiring an additional 3,611 shares during the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Trading Down 0.4 %

International Game Technology stock opened at $17.89 on Friday. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. International Game Technology PLC has a one year low of $16.42 and a one year high of $25.63. The stock has a market capitalization of $3.62 billion, a PE ratio of 29.82 and a beta of 1.91. The business’s fifty day moving average is $17.40 and its 200 day moving average is $19.37.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $657.84 million. During the same period last year, the business earned $0.56 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.47%. International Game Technology’s dividend payout ratio (DPR) is presently 46.78%.

Analysts Set New Price Targets

IGT has been the topic of a number of recent research reports. Truist Financial cut their target price on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. StockNews.com cut International Game Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, International Game Technology has an average rating of “Moderate Buy” and an average price target of $28.00.

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.