Janney Montgomery Scott LLC Reduces Stake in International Game Technology PLC (NYSE:IGT)

Janney Montgomery Scott LLC cut its holdings in shares of International Game Technology PLC (NYSE:IGT) by 33.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 106,470 shares of the company’s stock after selling 53,211 shares during the quarter. Janney Montgomery Scott LLC’s holdings in International Game Technology were worth $2,918,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IGT. Los Angeles Capital Management LLC raised its holdings in International Game Technology by 72.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 35,856 shares of the company’s stock worth $1,087,000 after purchasing an additional 15,052 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of International Game Technology during the 3rd quarter worth approximately $768,000. Barclays PLC raised its position in shares of International Game Technology by 24.8% in the 3rd quarter. Barclays PLC now owns 105,878 shares of the company’s stock worth $3,212,000 after acquiring an additional 21,029 shares in the last quarter. Qsemble Capital Management LP bought a new position in shares of International Game Technology in the 3rd quarter worth approximately $218,000. Finally, Amalgamated Bank boosted its position in shares of International Game Technology by 4.2% during the third quarter. Amalgamated Bank now owns 16,766 shares of the company’s stock valued at $508,000 after purchasing an additional 682 shares in the last quarter. Institutional investors own 44.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IGT. Truist Financial decreased their price objective on International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. Stifel Nicolaus reiterated a “hold” rating and issued a $24.00 price target on shares of International Game Technology in a research note on Wednesday, May 15th. StockNews.com lowered shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 13th. Susquehanna decreased their target price on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a research note on Thursday, May 16th. Finally, B. Riley assumed coverage on International Game Technology in a research report on Friday, April 5th. They issued a “buy” rating and a $30.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

International Game Technology Price Performance

Shares of IGT opened at $19.67 on Friday. The company has a market capitalization of $3.91 billion, a P/E ratio of 18.73 and a beta of 1.94. International Game Technology PLC has a twelve month low of $19.48 and a twelve month high of $33.99. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 2.59. The firm has a 50 day moving average of $20.70 and a 200 day moving average of $24.36.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.29 by $0.17. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm posted $0.49 earnings per share. International Game Technology’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts anticipate that International Game Technology PLC will post 1.53 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 30th. International Game Technology’s dividend payout ratio is currently 76.19%.

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.