153,692 Shares in International Game Technology PLC (NYSE:IGT) Acquired by Algert Global LLC

Algert Global LLC acquired a new stake in International Game Technology PLC (NYSE:IGT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 153,692 shares of the company’s stock, valued at approximately $3,145,000. Algert Global LLC owned 0.08% of International Game Technology as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Game Technology during the second quarter valued at about $31,000. Long Pond Capital LP bought a new position in International Game Technology in the 2nd quarter valued at about $32,053,000. The Manufacturers Life Insurance Company boosted its stake in International Game Technology by 8.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,622 shares of the company’s stock valued at $831,000 after purchasing an additional 3,144 shares during the last quarter. Deprince Race & Zollo Inc. increased its holdings in International Game Technology by 75.5% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock worth $47,343,000 after purchasing an additional 995,570 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of International Game Technology by 22.1% in the second quarter. Toronto Dominion Bank now owns 49,075 shares of the company’s stock worth $1,004,000 after purchasing an additional 8,892 shares during the last quarter. Institutional investors own 44.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IGT. B. Riley reiterated a “buy” rating and set a $30.00 price target on shares of International Game Technology in a report on Friday, July 26th. Stifel Nicolaus increased their target price on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.67.

International Game Technology Price Performance

IGT opened at $20.99 on Wednesday. International Game Technology PLC has a fifty-two week low of $18.90 and a fifty-two week high of $31.85. The firm has a 50-day moving average of $21.79 and a 200 day moving average of $21.00. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.71 and a current ratio of 0.84. The firm has a market cap of $4.18 billion, a P/E ratio of 19.98 and a beta of 1.96.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. On average, research analysts expect that International Game Technology PLC will post 1.48 EPS for the current year.

International Game Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.81%. International Game Technology’s dividend payout ratio is presently 76.19%.

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.