Ritholtz Wealth Management Cuts Holdings in International Game Technology PLC (NYSE:IGT)


Ritholtz Wealth Management trimmed its stake in International Game Technology PLC (NYSE:IGT – Free Report ) by 3.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 41,825 shares of the company’s stock after selling 1,719 shares during the quarter. Ritholtz Wealth Management’s holdings in International Gaming Technology were worth $1,146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. CWM LLC boosted its position in International Game Technology by 166.5% during the third quarter. CWM LLC now owns 898 shares of the company’s stock valued at $27,000 after buying an additional 561 shares during the period. Huntington National Bank boosted its position in International Game Technology by 113.2% during the third quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after buying an additional 489 shares during the period. Allworth Financial LP grew its position in International Game Technology by 770.0% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $29,000 after buying an additional 847 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in International Game Technology during the second quarter valued at $37,000. Finally, Parkside Financial Bank & Trust boosted its position in International Gaming Technology by 84.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock valued at $29,000 after buying an additional 534 shares during the period. Hedge funds and other institutional investors own 44.33% of the company’s shares.

International gaming tech stock up 1.9%

Shares of International Game Technology stock opened at $22.59 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.26, and a quick ratio of 1.07. The company has a 50-day moving average of $24.79 and a 200-day moving average of $26.98. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 29.72 and a beta of 1.95. International Game Technology PLC has a one year low of $19.96 and a one year high of $33.99.

International Gaming Technology (NYSE:IGT – Get The Free Report ) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. International Game Technology’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. As a group, sell-side analysts predict that International Game Technology PLC will post 1.48 earnings per share for the current fiscal year.

International Gaming Technology announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Investors of record on Tuesday, March 26th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 25th. This represents an annual dividend of $0.80 and a dividend yield of 3.54%. International Gaming Technology’s payout ratio is 105.26%.

Analysts set new price targets

Several equities research analysts have weighed in on IGT shares. Truist Financial cut their price objective on shares of International Game Technology from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, March 13th. StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Argus decreased their price objective on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Stifel Nicolaus restated a “hold” rating and issued a $26.00 price objective (up from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $29.00 price objective (up from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.50.

Get our latest IGT stock report

Company Profile of International Gaming Technology

(Free Report)

International Game Technology PLC operates and provides game technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America and the Caribbean. It operates in three segments: Global Lottery, Global Gaming and Digital & Betting. The company designs, sells, operates and leases a set of point-of-sale machines that reconcile lottery funds between the retailer and the 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, and iLottery solutions and services.

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Want to see what other hedge funds are holding IGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for International Game Technology PLC (NYSE:IGT – Free Report).

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



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