International Game Technology PLC (NYSE:IGT) Shares Acquired by Graham Capital Management L.P.

Graham Capital Management L.P. boosted its position in International Game Technology PLC (NYSE:IGT) by 476.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,610 shares of the company’s stock after purchasing an additional 132,746 shares during the period. Graham Capital Management L.P. owned about 0.08% of International Game Technology worth $2,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Deutsche Bank AG raised its stake in shares of International Game Technology by 9.3% during the 4th quarter. Deutsche Bank AG now owns 446,731 shares of the company’s stock worth $7,889,000 after buying an additional 38,027 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in International Game Technology by 27.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,428,893 shares of the company’s stock worth $25,234,000 after acquiring an additional 305,912 shares during the period. Deprince Race & Zollo Inc. raised its position in International Game Technology by 3.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,783,234 shares of the company’s stock worth $49,152,000 after acquiring an additional 98,502 shares in the last quarter. Beryl Capital Management LLC acquired a new stake in International Game Technology in the fourth quarter valued at $15,213,000. Finally, Alden Global Capital LLC purchased a new stake in shares of International Game Technology during the 4th quarter worth $3,847,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IGT shares. Truist Financial reduced their price objective on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 14th. Finally, Stifel Nicolaus lowered their price target on International Game Technology from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Game Technology has an average rating of “Moderate Buy” and a consensus target price of $25.75.

International Game Technology Stock Performance

Shares of IGT opened at $17.23 on Friday. International Game Technology PLC has a 12-month low of $13.81 and a 12-month high of $24.13. The stock has a market cap of $3.48 billion, a P/E ratio of 28.72 and a beta of 1.61. 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 company has a 50-day moving average of $16.43 and a two-hundred day moving average of $17.71.

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

International Game Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend was 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.