Barings LLC maintained its stake in shares of International Game Technology (NYSE:IGT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,100 shares of the company’s stock at the end of the first quarter. Barings LLC’s holdings in International Game Technology were worth $405,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC raised its position in International Game Technology by 37.8% in the first quarter. FMR LLC now owns 2,402,519 shares of the company’s stock valued at $56,940,000 after buying an additional 659,564 shares during the last quarter. Vanguard Group Inc. raised its position in International Game Technology by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,271,003 shares of the company’s stock valued at $53,822,000 after buying an additional 86,552 shares during the last quarter. Norges Bank purchased a new position in International Game Technology during the fourth quarter valued at $45,299,000. Mittleman Brothers LLC raised its position in International Game Technology by 8.8% in the first quarter. Mittleman Brothers LLC now owns 1,729,836 shares of the company’s stock valued at $40,997,000 after buying an additional 139,578 shares during the last quarter. Finally, Morgan Stanley raised its position in International Game Technology by 16.0% in the first quarter. Morgan Stanley now owns 1,374,633 shares of the company’s stock valued at $32,579,000 after buying an additional 189,841 shares during the last quarter. 39.77% of the stock is currently owned by institutional investors.
Shares of International Game Technology (NYSE IGT) traded down 1.21% on Friday, reaching $18.71. The company’s stock had a trading volume of 1,485,118 shares. International Game Technology has a 12 month low of $17.25 and a 12 month high of $32.07. The stock has a market cap of $3.79 billion, a P/E ratio of 15.17 and a beta of 1.42. The firm’s 50-day moving average price is $18.31 and its 200-day moving average price is $22.78.
International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Thursday, May 25th. The company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.19. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. International Game Technology had a return on equity of 11.97% and a net margin of 4.96%. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. On average, analysts forecast that International Game Technology will post $1.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 22nd. Shareholders of record on Thursday, June 8th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 6th. This represents a $0.80 dividend on an annualized basis and a yield of 4.28%. International Game Technology’s dividend payout ratio is currently 65.04%.
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IGT has been the subject of several analyst reports. ValuEngine cut shares of International Game Technology from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Telsey Advisory Group decreased their target price on shares of International Game Technology from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, May 26th. Wells Fargo & Company reissued a “market perform” rating and issued a $25.50 target price on shares of International Game Technology in a research note on Wednesday, April 19th. Bank of America Corporation reaffirmed a “neutral” rating and set a $27.00 price objective (up from $22.00) on shares of International Game Technology in a research report on Sunday, May 28th. Finally, Argus cut shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $27.38.
International Game Technology Company Profile
International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.
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