Victory Capital Management Inc. Raises Holdings in International Game Technology PLC (NYSE:IGT)

Victory Capital Management Inc. increased its position in International Game Technology PLC (NYSE:IGT) by 10.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 794,206 shares of the company’s stock after acquiring an additional 75,137 shares during the quarter. Victory Capital Management Inc. owned about 0.40% of International Game Technology worth $21,769,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new position in shares of International Game Technology in the fourth quarter worth about $25,000. Highlander Capital Management LLC purchased a new position in shares of International Game Technology in the fourth quarter valued at $27,000. Huntington National Bank lifted its holdings in International Game Technology by 113.2% during the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after purchasing an additional 489 shares in the last quarter. Allworth Financial LP lifted its holdings in International Game Technology by 770.0% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after purchasing an additional 847 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in International Game Technology in the 3rd quarter worth about $164,000. 44.33% of the stock is currently owned by institutional investors.

International Game Technology Trading Down 0.6 %

NYSE IGT opened at $20.10 on Thursday. 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 stock’s 50-day simple moving average is $21.63 and its two-hundred day simple moving average is $24.94. International Game Technology PLC has a twelve month low of $19.48 and a twelve month high of $33.99. The company 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 (NYSE:IGT) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. International Game Technology’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. Research analysts forecast that International Game Technology PLC will post 1.46 EPS for the current fiscal year.

International Game Technology Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IGT shares. Stifel Nicolaus reissued a “hold” rating and issued a $26.00 price target (down from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. Argus decreased their price target on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. B. Riley started coverage on International Game Technology in a research note on Friday, April 5th. They set a “buy” rating and a $30.00 price objective for the company. Truist Financial decreased their target price on International Game Technology from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Finally, StockNews.com upgraded International Game Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.