International Game Technology PLC (NYSE:IGT) Shares Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd lifted its stake in shares of International Game Technology PLC (NYSE:IGT) by 49.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 115,105 shares of the company’s stock after purchasing an additional 38,291 shares during the period. Point72 Hong Kong Ltd owned about 0.06% of International Game Technology worth $2,033,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of IGT. Barclays PLC lifted its position in shares of International Game Technology by 49.1% during the third quarter. Barclays PLC now owns 291,626 shares of the company’s stock worth $6,212,000 after purchasing an additional 96,019 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of International Game Technology during the fourth quarter worth about $45,000. Van ECK Associates Corp lifted its position in shares of International Game Technology by 5.1% during the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock worth $419,000 after purchasing an additional 1,145 shares during the last quarter. Rhumbline Advisers lifted its position in shares of International Game Technology by 2.0% during the fourth quarter. Rhumbline Advisers now owns 180,285 shares of the company’s stock worth $3,184,000 after purchasing an additional 3,611 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its position in shares of International Game Technology by 1.7% during the fourth quarter. Peregrine Capital Management LLC now owns 640,864 shares of the company’s stock worth $11,318,000 after purchasing an additional 10,901 shares during the last quarter. Institutional investors own 44.33% of the company’s stock.

International Game Technology Stock Performance

Shares of NYSE IGT opened at $16.62 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The firm’s 50-day moving average price is $16.36 and its two-hundred day moving average price is $17.62. International Game Technology PLC has a 52-week low of $13.81 and a 52-week high of $24.13. The stock has a market capitalization of $3.36 billion, a P/E ratio of 27.70 and a beta of 1.61.

International Game Technology (NYSE:IGT) last issued its earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business had revenue of $583.00 million during the quarter, compared to the consensus estimate of $630.30 million. As a group, sell-side analysts forecast that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 29th. This represents a $0.80 annualized dividend and a dividend yield of 4.81%. International Game Technology’s dividend payout ratio is presently 46.78%.

Wall Street Analysts Forecast Growth

IGT has been the topic of several research analyst reports. Truist Financial reduced their price target on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 14th. Susquehanna reissued a “positive” rating and issued a $25.00 target price (down previously from $30.00) on shares of International Game Technology in a report on Wednesday. Finally, Stifel Nicolaus cut their target price on shares of 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 issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.75.

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.