Gotham Asset Management LLC Reduces Stock Position in International Game Technology PLC (NYSE:IGT)

Gotham Asset Management LLC cut its holdings in International Game Technology PLC (NYSE:IGT) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,974 shares of the company’s stock after selling 3,237 shares during the quarter. Gotham Asset Management LLC’s holdings in International Game Technology were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of IGT. Norges Bank bought a new stake in shares of International Game Technology in the 4th quarter worth approximately $25,616,000. T. Rowe Price Investment Management Inc. bought a new stake in International Game Technology in the fourth quarter valued at $19,453,000. Beryl Capital Management LLC purchased a new position in International Game Technology during the 4th quarter valued at $15,213,000. Massachusetts Financial Services Co. MA raised its holdings in International Game Technology by 10.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company’s stock worth $151,495,000 after purchasing an additional 787,543 shares in the last quarter. Finally, Orvieto Partners L.P. bought a new position in International Game Technology in the 4th quarter worth $8,292,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Analyst Upgrades and Downgrades

IGT has been the topic of a number of research 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 downgraded International Game Technology from a “buy” rating to a “hold” rating in a report on Monday, April 14th. Stifel Nicolaus decreased their target price on International Game Technology from $26.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Susquehanna restated a “positive” rating and set a $25.00 price target (down from $30.00) on shares of International Game Technology in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, International Game Technology presently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

International Game Technology Stock Up 1.5%

Shares of International Game Technology stock opened at $16.88 on Monday. International Game Technology PLC has a 1 year low of $13.81 and a 1 year high of $24.13. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 28.13 and a beta of 1.61. The company has a 50-day moving average of $16.35 and a 200 day moving average of $17.55. 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 (NYSE:IGT) last announced its earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $583.00 million for the quarter, compared to the consensus estimate of $630.30 million. During the same period in the prior year, the business posted $0.46 EPS. International Game Technology’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology’s payout ratio is 55.56%.

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.