Victory Capital Management Inc. Increases Stake in International Game Technology PLC (NYSE:IGT)

Victory Capital Management Inc. grew its stake in International Game Technology PLC (NYSE:IGT) by 10.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 794,206 shares of the company’s stock after purchasing an additional 75,137 shares during the period. Victory Capital Management Inc.’s holdings in International Game Technology were worth $21,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in International Game Technology during the fourth quarter worth $25,000. Highlander Capital Management LLC purchased a new stake in shares of International Game Technology during the 4th quarter worth about $27,000. Huntington National Bank grew its position in shares of International Game Technology by 113.2% during the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock valued at $28,000 after acquiring an additional 489 shares during the period. Allworth Financial LP increased its stake in shares of International Game Technology by 770.0% in the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $29,000 after purchasing an additional 847 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in International Game Technology in the 3rd quarter worth about $164,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

Analyst Ratings Changes

IGT has been the subject of a number of recent analyst reports. B. Riley assumed coverage on International Game Technology in a research report on Friday, April 5th. They issued a “buy” rating and a $30.00 price objective for the company. StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 3rd. Argus dropped their target price 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. Stifel Nicolaus restated a “hold” rating and set a $26.00 price target (down previously from $30.00) on shares of International Game Technology in a research report on Wednesday, March 13th. Finally, Truist Financial lowered their price objective 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. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

International Game Technology Price Performance

International Game Technology stock opened at $20.10 on Thursday. The company has a fifty day simple moving average of $21.63 and a 200-day simple moving average of $24.94. 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 capitalization of $4.00 billion, a price-to-earnings ratio of 26.44 and a beta of 1.94. International Game Technology PLC has a 52-week low of $19.48 and a 52-week high of $33.99.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, March 12th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. International Game Technology’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, equities analysts anticipate that International Game Technology PLC will post 1.46 EPS for the current fiscal year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Monday, March 25th. International Game Technology’s dividend payout ratio (DPR) is currently 105.26%.

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.