30,260 Shares in International Game Technology PLC (NYSE:IGT) Acquired by Zacks Investment Management

Zacks Investment Management purchased a new position in International Game Technology PLC (NYSE:IGT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,260 shares of the company’s stock, valued at approximately $645,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new stake in International Game Technology during the third quarter worth approximately $1,209,000. Massachusetts Financial Services Co. MA raised its holdings in International Game Technology by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock worth $165,946,000 after purchasing an additional 47,442 shares in the last quarter. Qsemble Capital Management LP raised its holdings in International Game Technology by 230.0% during the third quarter. Qsemble Capital Management LP now owns 42,941 shares of the company’s stock worth $915,000 after purchasing an additional 29,929 shares in the last quarter. BBR Partners LLC acquired a new stake in International Game Technology during the third quarter worth approximately $639,000. Finally, Solel Partners LP acquired a new stake in International Game Technology during the second quarter worth approximately $43,478,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Stock Performance

Shares of International Game Technology stock opened at $19.07 on Wednesday. The firm’s fifty day simple moving average is $20.24 and its 200-day simple moving average is $20.83. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 31.78 and a beta of 1.91. International Game Technology PLC has a 12 month low of $18.56 and a 12 month high of $28.82. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31.

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

International Game Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were given a $0.20 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a yield of 4.20%. International Game Technology’s dividend payout ratio (DPR) is 133.34%.

Analyst Ratings Changes

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

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.