Xponance Inc. Cuts Position in International Game Technology PLC (NYSE:IGT)

Xponance Inc. trimmed its position in International Game Technology PLC (NYSE:IGT) by 10.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,697 shares of the company’s stock after selling 1,041 shares during the quarter. Xponance Inc.’s holdings in International Game Technology were worth $238,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CWM LLC raised its holdings in shares of International Game Technology by 166.5% in 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 period. Venturi Wealth Management LLC purchased a new position in shares of International Game Technology in the 4th quarter worth about $25,000. Huntington National Bank raised its holdings in shares of International Game Technology by 113.2% in the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after purchasing an additional 489 shares during the period. Allworth Financial LP raised its holdings 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 valued at $29,000 after buying an additional 847 shares during the period. Finally, Highlander Capital Management LLC purchased a new stake in shares of International Game Technology during the 4th quarter valued at about $27,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. B. Riley assumed coverage on International Game Technology in a report on Friday, April 5th. They set a “buy” rating and a $30.00 target price on the stock. StockNews.com upgraded International Game Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 3rd. Truist Financial dropped their target price on International Game Technology from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Argus dropped their target price on International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $29.00 target price (down from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, International Game Technology currently has an average rating of “Moderate Buy” and an average target price of $31.00.

International Game Technology Price Performance

Shares of NYSE IGT opened at $20.30 on Friday. International Game Technology PLC has a fifty-two week low of $19.54 and a fifty-two week high of $33.99. The business has a 50 day moving average price of $22.56 and a two-hundred day moving average price of $25.53. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 2.90. The firm has a market cap of $4.04 billion, a PE ratio of 26.71 and a beta of 1.94.

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

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th were given 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 105.26%.

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.