International Game Technology PLC (NYSE:IGT) Shares Sold by Diametric Capital LP

Diametric Capital LP decreased its position in shares of International Game Technology PLC (NYSE:IGT) by 36.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,156 shares of the company’s stock after selling 75,781 shares during the quarter. International Game Technology comprises approximately 1.6% of Diametric Capital LP’s investment portfolio, making the stock its 5th largest position. Diametric Capital LP owned approximately 0.07% of International Game Technology worth $2,334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in International Game Technology during the fourth quarter worth $45,000. Cibc World Markets Corp acquired a new stake in International Game Technology during the 4th quarter worth about $188,000. Point72 DIFC Ltd raised its position in shares of International Game Technology by 7.9% in the 3rd quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock worth $274,000 after acquiring an additional 947 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of International Game Technology by 4.2% in the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company’s stock valued at $274,000 after purchasing an additional 622 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of International Game Technology by 5.1% during the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock valued at $419,000 after purchasing an additional 1,145 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Stock Up 0.3 %

Shares of NYSE:IGT opened at $16.29 on Tuesday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. International Game Technology PLC has a 52-week low of $15.78 and a 52-week high of $24.13. The business’s 50 day simple moving average is $17.22 and its two-hundred day simple moving average is $18.74. The firm has a market cap of $3.29 billion, a P/E ratio of 27.14 and a beta of 1.86.

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

International Game Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s payout ratio is presently 46.78%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a report on Tuesday, March 25th. Truist Financial reduced their price objective on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

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.