International Game Technology PLC (NYSE:IGT) Shares Acquired by Headlands Technologies LLC

Headlands Technologies LLC lifted its holdings in shares of International Game Technology PLC (NYSE:IGT) by 112.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,778 shares of the company’s stock after purchasing an additional 4,124 shares during the quarter. Headlands Technologies LLC’s holdings in International Game Technology were worth $159,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Lazard Asset Management LLC increased its stake in shares of International Game Technology by 63.4% during the first quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company’s stock worth $242,880,000 after buying an additional 4,170,813 shares during the period. Capital Research Global Investors increased its stake in shares of International Game Technology by 102.1% during the fourth quarter. Capital Research Global Investors now owns 6,193,990 shares of the company’s stock worth $169,777,000 after buying an additional 3,129,559 shares during the period. Norges Bank purchased a new position in International Game Technology in the fourth quarter valued at approximately $35,011,000. Parsifal Capital Management LP increased its stake in International Game Technology by 40.8% in the fourth quarter. Parsifal Capital Management LP now owns 4,290,025 shares of the company’s stock valued at $117,590,000 after purchasing an additional 1,243,514 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in International Game Technology by 6.4% in the first quarter. Bank of New York Mellon Corp now owns 13,871,989 shares of the company’s stock valued at $313,368,000 after purchasing an additional 838,622 shares during the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Stock Performance

Shares of IGT opened at $21.68 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.71 and a debt-to-equity ratio of 2.57. The firm has a market cap of $4.32 billion, a PE ratio of 20.65 and a beta of 1.96. The company’s 50 day simple moving average is $21.59 and its 200-day simple moving average is $21.25. International Game Technology PLC has a 12-month low of $18.90 and a 12-month high of $33.48.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that International Game Technology PLC will post 1.48 EPS for the current year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Tuesday, August 13th. International Game Technology’s dividend payout ratio is presently 76.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research note on Friday. B. Riley reiterated a “buy” rating and issued a $30.00 price target on shares of International Game Technology in a research note on Friday, July 26th. Finally, Stifel Nicolaus raised their target price on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, International Game Technology has an average rating of “Moderate Buy” and a consensus target price 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.