Victory Capital Management Inc. Sells 33,439 Shares of International Game Technology PLC (NYSE:IGT)

Victory Capital Management Inc. cut its stake in shares of International Game Technology PLC (NYSE:IGT – Get Rating) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 881,562 shares of the company’s stock after selling 33,439 shares during the period. Victory Capital Management Inc. owned 0.43% of International Game Technology worth $19,994,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IGT. JPMorgan Chase & Co. increased its position in shares of International Game Technology by 48.0% during the first quarter. JPMorgan Chase & Co. now owns 435,238 shares of the company’s stock valued at $10,742,000 after buying an additional 141,105 shares during the period. AlphaCrest Capital Management LLC bought a new stake in shares of International Game Technology during the first quarter valued at about $374,000. Rhumbline Advisers grew its holdings in shares of International Game Technology by 1.6% during the first quarter. Rhumbline Advisers now owns 103,240 shares of the company’s stock worth $2,548,000 after purchasing an additional 1,616 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of International Game Technology by 35.1% during the first quarter. Great West Life Assurance Co. Can now owns 4,031 shares of the company’s stock worth $106,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Raymond James Trust N.A. purchased a new position in shares of International Game Technology during the first quarter worth about $212,000. 44.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IGT. B. Riley began coverage on International Game Technology in a report on Thursday, April 20th. They set a “buy” rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on International Game Technology from $29.00 to $33.00 in a research note on Wednesday, March 1st. StockNews.com assumed coverage on shares of International Game Technology in a research report on Thursday. They set a “strong-buy” rating on the stock. Susquehanna upgraded shares of International Game Technology from a “neutral” rating to a “positive” rating and set a $31.00 price target on the stock in a research report on Thursday, May 11th. Finally, Stifel Nicolaus increased their price target on shares of International Game Technology from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, February 7th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, International Game Technology presently has a consensus rating of “Buy” and a consensus price target of $39.00.

International Game Technology Stock Down 1.1 %

Shares of International Game Technology stock opened at $26.00 on Monday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.90 and a current ratio of 1.03. International Game Technology PLC has a 52-week low of $15.01 and a 52-week high of $28.98. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 24.30 and a beta of 1.86. The company’s 50 day moving average price is $26.41 and its 200-day moving average price is $25.31.

International Game Technology (NYSE:IGT – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.10. International Game Technology had a net margin of 5.17% and a return on equity of 28.84%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $0.39 earnings per share. The business’s revenue was up .9% on a year-over-year basis. Equities research analysts forecast that International Game Technology PLC will post 1.68 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Wednesday, May 24th. International Game Technology’s payout ratio is 74.77%.

International Game Technology Company Profile

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International Game Technology PLC engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the Global Lottery, Global Gaming, and Digital & Betting segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support.