Great Lakes Advisors LLC Takes $830,000 Position in International Game Technology PLC (IGT)

Great Lakes Advisors LLC bought a new stake in International Game Technology PLC (NYSE:IGT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,050 shares of the company’s stock, valued at approximately $830,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rubric Capital Management LP lifted its stake in shares of International Game Technology by 65.9% in the third quarter. Rubric Capital Management LP now owns 3,850,000 shares of the company’s stock worth $76,038,000 after buying an additional 1,530,000 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of International Game Technology by 336.8% in the third quarter. TIAA CREF Investment Management LLC now owns 1,564,264 shares of the company’s stock worth $30,894,000 after buying an additional 1,206,152 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new stake in shares of International Game Technology in the second quarter worth $23,240,000. FMR LLC acquired a new stake in shares of International Game Technology in the second quarter worth $22,797,000. Finally, Teachers Advisors LLC lifted its stake in shares of International Game Technology by 560.9% in the third quarter. Teachers Advisors LLC now owns 861,074 shares of the company’s stock worth $17,006,000 after buying an additional 730,783 shares during the last quarter. Hedge funds and other institutional investors own 51.70% of the company’s stock.

A number of brokerages have recently weighed in on IGT. Susquehanna Bancshares began coverage on shares of International Game Technology in a research note on Friday. They issued a “positive” rating and a $22.00 price objective for the company. ValuEngine upgraded shares of International Game Technology from a “strong sell” rating to a “sell” rating in a research note on Monday, November 26th. Argus reduced their price objective on shares of International Game Technology from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Deutsche Bank reduced their price objective on shares of International Game Technology from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Finally, Jefferies Financial Group dropped their target price on shares of International Game Technology from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.81.

Shares of IGT stock opened at $16.88 on Friday. International Game Technology PLC has a 1 year low of $14.14 and a 1 year high of $31.00. The firm has a market cap of $3.45 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.54 and a beta of 1.27. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.88 and a current ratio of 1.03.

International Game Technology (NYSE:IGT) last announced its earnings results on Wednesday, October 31st. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. International Game Technology had a net margin of 3.27% and a return on equity of 11.52%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. International Game Technology’s revenue was down 5.3% compared to the same quarter last year. Analysts predict that International Game Technology PLC will post 1.1 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 28th. Investors of record on Wednesday, November 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Tuesday, November 13th. International Game Technology’s dividend payout ratio (DPR) is currently 52.63%.

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International Game Technology Profile

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.

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Institutional Ownership by Quarter for International Game Technology (NYSE:IGT)

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