International Game Technology PLC (NYSE:IGT) Shares Sold by Boothbay Fund Management LLC

Boothbay Fund Management LLC trimmed its holdings in shares of International Game Technology PLC (NYSE:IGT) by 34.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 59,107 shares of the company’s stock after selling 31,361 shares during the quarter. Boothbay Fund Management LLC’s holdings in International Game Technology were worth $1,044,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in International Game Technology during the 4th quarter valued at about $45,000. Sterling Capital Management LLC boosted its holdings in shares of International Game Technology by 782.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock valued at $55,000 after acquiring an additional 2,770 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of International Game Technology during the fourth quarter valued at approximately $188,000. Summit Investment Advisors Inc. lifted its position 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 period. Finally, Victory Capital Management Inc. boosted 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 valued at $274,000 after purchasing an additional 622 shares in the last quarter. 44.33% of the stock is currently owned by institutional investors.

International Game Technology Stock Up 0.9 %

IGT stock opened at $16.56 on Wednesday. The company’s 50 day simple moving average is $16.60 and its 200-day simple moving average is $17.91. International Game Technology PLC has a 52-week low of $13.81 and a 52-week 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 firm has a market capitalization of $3.34 billion, a P/E ratio of 27.59 and a beta of 1.66.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $657.84 million. During the same quarter in the previous year, the company earned $0.56 EPS. International Game Technology’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.80 annualized dividend and a yield of 4.83%. International Game Technology’s dividend payout ratio (DPR) is presently 46.78%.

Analysts Set New Price Targets

IGT has been the topic of a number of research reports. Truist Financial dropped their price objective 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. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Monday, April 14th. Finally, Stifel Nicolaus lowered their price objective on shares of International Game Technology from $26.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.75.

About International Game Technology

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.