Allspring Global Investments Holdings LLC Sells 556 Shares of International Game Technology PLC (NYSE:IGT)

Allspring Global Investments Holdings LLC cut its stake in shares of International Game Technology PLC (NYSE:IGT) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,168 shares of the company’s stock after selling 556 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in International Game Technology were worth $443,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IGT. Wellington Management Group LLP increased its holdings in shares of International Game Technology by 36.8% during the third quarter. Wellington Management Group LLP now owns 2,208,079 shares of the company’s stock valued at $66,949,000 after acquiring an additional 594,552 shares in the last quarter. Sasco Capital Inc. CT bought a new stake in International Game Technology in the 3rd quarter worth about $12,677,000. Point Break Capital Management LLC bought a new stake in International Game Technology in the 3rd quarter worth about $4,569,000. Hsbc Holdings PLC bought a new stake in International Game Technology in the 3rd quarter worth about $1,613,000. Finally, Qube Research & Technologies Ltd increased its holdings in International Game Technology by 71.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 117,553 shares of the company’s stock worth $3,564,000 after buying an additional 49,086 shares in the last quarter. 44.33% of the stock is currently owned by institutional investors.

International Game Technology Trading Down 1.3 %

Shares of NYSE:IGT opened at $20.27 on Friday. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 26.66 and a beta of 1.94. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.07 and a current ratio of 1.26. The stock’s 50-day simple moving average is $22.68 and its two-hundred day simple moving average is $25.64. International Game Technology PLC has a 52-week low of $19.54 and a 52-week high of $33.99.

International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. Analysts expect that International Game Technology PLC will post 1.46 EPS for the current year.

International Game Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.95%. International Game Technology’s payout ratio is currently 105.26%.

Analysts Set New Price Targets

Several research firms recently commented on IGT. Argus reduced their price objective on International Game Technology from $30.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Stifel Nicolaus reiterated a “hold” rating and issued a $26.00 price objective (down from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $29.00 price objective (down from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Truist Financial reduced their price objective on International Game Technology from $28.00 to $26.00 and set a “hold” rating for the company in a report on Tuesday. Finally, StockNews.com upgraded International Game Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, International Game Technology currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

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.