Point72 Hong Kong Ltd Acquires New Position in International Game Technology PLC (NYSE:IGT)

Point72 Hong Kong Ltd acquired a new stake in shares of International Game Technology PLC (NYSE:IGT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,814 shares of the company’s stock, valued at approximately $1,636,000.

Other large investors have also recently modified their holdings of the company. Segall Bryant & Hamill LLC purchased a new stake in shares of International Game Technology during the 3rd quarter valued at approximately $1,209,000. Massachusetts Financial Services Co. MA lifted its position in shares of International Game Technology by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock worth $165,946,000 after acquiring an additional 47,442 shares in the last quarter. Qsemble Capital Management LP lifted its position in shares of International Game Technology by 230.0% during the third quarter. Qsemble Capital Management LP now owns 42,941 shares of the company’s stock worth $915,000 after acquiring an additional 29,929 shares in the last quarter. M&G Plc bought a new position in shares of International Game Technology in the second quarter worth $8,850,000. Finally, BBR Partners LLC purchased a new position in shares of International Game Technology in the third quarter valued at $639,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

International Game Technology Price Performance

International Game Technology stock opened at $19.23 on Monday. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 32.05 and a beta of 1.96. 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 business has a 50-day simple moving average of $20.44 and a 200 day simple moving average of $20.86. International Game Technology PLC has a 52 week low of $18.56 and a 52 week high of $28.82.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $591.50 million. During the same period in the previous year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, research analysts forecast that International Game Technology PLC will post 1 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a yield of 4.16%. International Game Technology’s dividend payout ratio is presently 133.34%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.67.

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.