Quantinno Capital Management LP Buys Shares of 16,472 International Game Technology PLC (NYSE:IGT)

Quantinno Capital Management LP bought a new stake in International Game Technology PLC (NYSE:IGT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,472 shares of the company’s stock, valued at approximately $291,000.

Several other large investors also recently added to or reduced their stakes in IGT. Norges Bank purchased a new stake in International Game Technology in the 4th quarter valued at $25,616,000. Lazard Asset Management LLC grew its holdings in shares of International Game Technology by 13.1% during the 4th quarter. Lazard Asset Management LLC now owns 10,927,433 shares of the company’s stock worth $192,978,000 after purchasing an additional 1,267,625 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of International Game Technology during the 4th quarter worth $19,453,000. Beryl Capital Management LLC purchased a new position in shares of International Game Technology during the 4th quarter worth $15,213,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of International Game Technology by 10.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company’s stock worth $151,495,000 after purchasing an additional 787,543 shares during the period. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Price Performance

IGT opened at $15.26 on Tuesday. The stock’s 50-day moving average price is $16.17 and its 200 day moving average price is $17.32. International Game Technology PLC has a 12-month low of $13.81 and a 12-month high of $24.13. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 25.43 and a beta of 1.61.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.05). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $583.00 million for the quarter, compared to analyst estimates of $630.30 million. During the same period in the previous year, the company posted $0.46 EPS. International Game Technology’s revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts expect that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology’s dividend payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on IGT shares. Truist Financial lowered their price target on International Game Technology from $20.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Argus cut International Game Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 20th. Susquehanna reiterated a “positive” rating and set a $25.00 price target (down from $30.00) on shares of International Game Technology in a report on Wednesday, May 14th. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price target (down from $22.00) on shares of International Game Technology in a report on Wednesday, May 21st. Finally, Wall Street Zen cut International Game Technology from a “buy” rating to a “hold” rating in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.25.

About International Game Technology

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.