SRS Capital Advisors Inc. Cuts Holdings in International Game Technology PLC (NYSE:IGT)

SRS Capital Advisors Inc. trimmed its position in International Game Technology PLC (NYSE:IGT) by 10.7% in the fourth quarter, HoldingsChannel reports. The firm owned 8,551 shares of the company’s stock after selling 1,028 shares during the quarter. SRS Capital Advisors Inc.’s holdings in International Game Technology were worth $151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of International Game Technology in the 4th quarter worth approximately $45,000. Point72 DIFC Ltd boosted its position in International Game Technology by 7.9% in the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock worth $274,000 after purchasing an additional 947 shares during the last quarter. Victory Capital Management Inc. grew its stake in International Game Technology by 7.2% in the 3rd quarter. Victory Capital Management Inc. now owns 14,897 shares of the company’s stock valued at $317,000 after purchasing an additional 996 shares during the period. Van ECK Associates Corp increased its position in shares of International Game Technology by 5.1% during the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock valued at $419,000 after purchasing an additional 1,145 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of International Game Technology during the 3rd quarter worth $500,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IGT shares. StockNews.com lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Truist Financial decreased their price target on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.00.

International Game Technology Trading Up 3.5 %

Shares of International Game Technology stock opened at $17.98 on Thursday. The stock has a market capitalization of $3.63 billion, a P/E ratio of 29.96 and a beta of 1.91. International Game Technology PLC has a 52-week low of $16.42 and a 52-week high of $25.63. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The stock’s 50-day simple moving average is $17.39 and its 200 day simple moving average is $19.38.

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

International Game Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.80 annualized dividend and a yield of 4.45%. International Game Technology’s dividend payout ratio is currently 46.78%.

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.