International Game Technology (NYSE:IGT) Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its position in International Game Technology (NYSE:IGT) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,336 shares of the company’s stock after acquiring an additional 715 shares during the period. Cerity Partners LLC’s holdings in International Game Technology were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in International Game Technology by 782.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock valued at $55,000 after acquiring an additional 2,770 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in International Game Technology by 71.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,511 shares of the company’s stock valued at $73,000 after acquiring an additional 1,879 shares in the last quarter. Inlight Wealth Management LLC acquired a new stake in International Game Technology in the first quarter valued at approximately $85,000. GAMMA Investing LLC boosted its stake in International Game Technology by 7,771.0% in the first quarter. GAMMA Investing LLC now owns 5,431 shares of the company’s stock valued at $880,000 after acquiring an additional 5,362 shares in the last quarter. Finally, Quarry LP boosted its stake in International Game Technology by 103.9% in the fourth quarter. Quarry LP now owns 6,185 shares of the company’s stock valued at $109,000 after acquiring an additional 3,151 shares in the last quarter. 44.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Argus downgraded shares of International Game Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of International Game Technology from a “sell” rating to a “hold” rating in a research note on Sunday, June 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price objective (down from $22.00) on shares of International Game Technology in a research note on Wednesday, May 21st. Susquehanna reiterated a “positive” rating and set a $25.00 price objective (down from $30.00) on shares of International Game Technology in a research note on Wednesday, May 14th. Finally, Truist Financial lowered their price objective on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.25.

International Game Technology Trading Up 4.3%

NYSE:IGT opened at $16.49 on Friday. The company has a market capitalization of $3.33 billion, a P/E ratio of 11.45 and a beta of 1.52. The firm has a fifty day simple moving average of $15.65 and a 200-day simple moving average of $16.43. International Game Technology has a 12 month low of $13.81 and a 12 month high of $24.13. The company has a current ratio of 2.48, a quick ratio of 2.43 and a debt-to-equity ratio of 2.74.

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 analysts’ consensus estimates of $0.14 by ($0.05). The business had revenue of $583.00 million for the quarter, compared to analyst estimates of $630.30 million. International Game Technology had a net margin of 11.46% and a return on equity of 7.86%. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 earnings per share. On average, equities research analysts anticipate that International Game Technology will post 1.24 earnings per share for the current year.

International Game Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.80 dividend on an annualized basis and a yield of 4.85%. International Game Technology’s dividend payout ratio is presently 55.56%.

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.