Nebula Research & Development LLC Increases Stake in International Game Technology PLC (NYSE:IGT)

Nebula Research & Development LLC increased its holdings in International Game Technology PLC (NYSE:IGT) by 70.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,605 shares of the company’s stock after acquiring an additional 18,913 shares during the quarter. Nebula Research & Development LLC’s holdings in International Game Technology were worth $805,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IGT. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of International Game Technology during the fourth quarter valued at approximately $45,000. Sterling Capital Management LLC boosted its position in International Game Technology by 782.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock valued at $55,000 after purchasing an additional 2,770 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of International Game Technology in the 4th quarter valued at about $188,000. Summit Investment Advisors Inc. grew its holdings in International Game Technology by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company’s stock worth $210,000 after purchasing an additional 655 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in International Game Technology by 4.2% during the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company’s stock worth $274,000 after buying an additional 622 shares during the last quarter. 44.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Stifel Nicolaus dropped 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 research report on Tuesday, April 22nd. StockNews.com lowered International Game Technology from a “buy” rating to a “hold” rating in a research note on Monday, April 14th. Finally, Truist Financial dropped their price target on International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.75.

International Game Technology Trading Up 0.3 %

Shares of International Game Technology stock opened at $16.37 on Monday. International Game Technology PLC has a 1 year low of $13.81 and a 1 year high of $24.13. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The stock has a market cap of $3.31 billion, a PE ratio of 27.28 and a beta of 1.66. The firm has a fifty day moving average price of $16.66 and a 200 day moving average price of $17.95.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). The company had revenue of $651.00 million during the quarter, compared to analyst estimates 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 last year, the firm earned $0.56 EPS. Equities research analysts predict that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s dividend payout ratio (DPR) is 46.78%.

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.