D. E. Shaw & Co. Inc. Boosts Holdings in International Game Technology PLC (NYSE:IGT)

D. E. Shaw & Co. Inc. grew its holdings in shares of International Game Technology PLC (NYSE:IGT) by 27.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,428,893 shares of the company’s stock after acquiring an additional 305,912 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.72% of International Game Technology worth $25,234,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of International Game Technology by 10.1% in the fourth 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 last quarter. Solel Partners LP grew its holdings in shares of International Game Technology by 14.6% in the fourth quarter. Solel Partners LP now owns 3,058,150 shares of the company’s stock worth $54,007,000 after purchasing an additional 390,726 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of International Game Technology by 3.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,783,234 shares of the company’s stock worth $49,152,000 after purchasing an additional 98,502 shares during the last quarter. Norges Bank bought a new position in shares of International Game Technology in the fourth quarter worth approximately $25,616,000. Finally, Vanguard Group Inc. grew its holdings in shares of International Game Technology by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 1,328,460 shares of the company’s stock worth $23,461,000 after purchasing an additional 29,780 shares during the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Stock Performance

NYSE:IGT opened at $17.23 on Monday. The stock has a market cap of $3.48 billion, a P/E ratio of 28.72 and a beta of 1.61. The firm’s fifty day simple moving average is $16.43 and its 200 day simple moving average is $17.69. International Game Technology PLC has a twelve month low of $13.81 and a twelve month high of $24.13. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.10). The firm had revenue of $651.00 million for the quarter, compared to analysts’ expectations of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS. As a group, research analysts predict that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.64%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s dividend payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

IGT has been the topic of several recent analyst reports. Stifel Nicolaus cut their target price on shares of International Game Technology from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Monday, April 14th. Finally, Truist Financial cut their price target on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, International Game Technology presently has an average rating of “Moderate Buy” and an average price target of $25.75.

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.