Mackenzie Financial Corp Sells 142,591 Shares of International Game Technology PLC (NYSE:IGT)

Mackenzie Financial Corp decreased its stake in International Game Technology PLC (NYSE:IGT) by 88.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,085 shares of the company’s stock after selling 142,591 shares during the period. Mackenzie Financial Corp’s holdings in International Game Technology were worth $523,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC increased its stake in shares of International Game Technology by 166.5% during the 3rd quarter. CWM LLC now owns 898 shares of the company’s stock worth $27,000 after purchasing an additional 561 shares during the last quarter. SG Americas Securities LLC purchased a new stake in International Game Technology in the third quarter worth $164,000. Meridian Wealth Management LLC raised its stake in shares of International Game Technology by 21.4% in the third quarter. Meridian Wealth Management LLC now owns 15,040 shares of the company’s stock valued at $456,000 after buying an additional 2,650 shares during the period. Linden Thomas Advisory Services LLC purchased a new position in shares of International Game Technology during the 3rd quarter valued at $693,000. Finally, Allworth Financial LP grew its stake in shares of International Game Technology by 770.0% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after acquiring an additional 847 shares during the period. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Price Performance

Shares of NYSE:IGT opened at $20.31 on Friday. The company has a 50 day moving average of $22.56 and a 200 day moving average of $25.57. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 2.90. The stock has a market cap of $4.04 billion, a P/E ratio of 26.72 and a beta of 1.94. International Game Technology PLC has a 12 month low of $19.54 and a 12 month high of $33.99.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that International Game Technology PLC will post 1.47 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th were issued a $0.20 dividend. The ex-dividend date was Monday, March 25th. This represents a $0.80 annualized dividend and a dividend yield of 3.94%. International Game Technology’s payout ratio is currently 105.26%.

Analyst Upgrades and Downgrades

IGT has been the topic of a number of research reports. Stifel Nicolaus restated a “hold” rating and issued a $26.00 price objective (down from $30.00) on shares of International Game Technology in a research note on Wednesday, March 13th. Argus lowered their price target on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. StockNews.com raised shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 3rd. Jefferies Financial Group reissued a “hold” rating and set a $29.00 target price (down previously from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Finally, B. Riley started coverage on International Game Technology in a report on Friday, April 5th. They issued a “buy” rating and a $30.00 price target for the company. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

International Game Technology 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.