III Capital Management Acquires Shares of 67,600 International Game Technology PLC (NYSE:IGT)

III Capital Management bought a new position in International Game Technology PLC (NYSE:IGT) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 67,600 shares of the company’s stock, valued at approximately $1,440,000.

A number of other institutional investors have also recently made changes to their positions in the business. Sei Investments Co. boosted its position in shares of International Game Technology by 0.3% during the second quarter. Sei Investments Co. now owns 202,224 shares of the company’s stock valued at $4,137,000 after buying an additional 515 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of International Game Technology by 26.1% during the third quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company’s stock valued at $60,000 after acquiring an additional 579 shares in the last quarter. Qsemble Capital Management LP raised its stake in shares of International Game Technology by 5.1% during the second quarter. Qsemble Capital Management LP now owns 13,012 shares of the company’s stock valued at $266,000 after acquiring an additional 631 shares in the last quarter. Victory Capital Management Inc. grew its stake in International Game Technology by 7.2% in the third quarter. Victory Capital Management Inc. now owns 14,897 shares of the company’s stock worth $317,000 after purchasing an additional 996 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. increased its holdings in International Game Technology by 100.9% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock worth $47,000 after purchasing an additional 1,160 shares during the period. Institutional investors own 44.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, International Game Technology has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Stock Down 0.8 %

Shares of International Game Technology stock traded down $0.16 on Tuesday, reaching $19.91. The stock had a trading volume of 45,398 shares, compared to its average volume of 1,108,292. International Game Technology PLC has a 1 year low of $18.56 and a 1 year high of $28.82. The company has a 50 day moving average price of $20.41 and a 200 day moving average price of $20.85. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The stock has a market capitalization of $3.96 billion, a P/E ratio of 33.45 and a beta of 1.91.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.24). The firm had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. International Game Technology’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, equities research analysts forecast that International Game Technology PLC will post 1 EPS for the current year.

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.02%. International Game Technology’s payout ratio is 133.34%.

International Game Technology 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.