Algert Global LLC Has $1.78 Million Stock Holdings in International Game Technology PLC (NYSE:IGT)

Algert Global LLC trimmed its position in International Game Technology PLC (NYSE:IGT) by 45.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,750 shares of the company’s stock after selling 69,942 shares during the quarter. Algert Global LLC’s holdings in International Game Technology were worth $1,784,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IGT. Sei Investments Co. increased its holdings in shares of International Game Technology by 0.3% in the second quarter. Sei Investments Co. now owns 202,224 shares of the company’s stock valued at $4,137,000 after purchasing an additional 515 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of International Game Technology by 26.1% in the third quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company’s stock valued at $60,000 after purchasing an additional 579 shares during the period. Qsemble Capital Management LP raised its position in shares of International Game Technology by 5.1% in the second quarter. Qsemble Capital Management LP now owns 13,012 shares of the company’s stock valued at $266,000 after purchasing an additional 631 shares during the period. Victory Capital Management Inc. raised its position in shares of International Game Technology by 7.2% in the third 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. Finally, Industrial Alliance Investment Management Inc. raised its position in shares of International Game Technology by 100.9% in the second quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock valued at $47,000 after purchasing an additional 1,160 shares during the period. 44.33% of the stock is currently owned by institutional investors and hedge funds.

International Game Technology Trading Up 0.6 %

Shares of NYSE:IGT opened at $19.34 on Thursday. The business’s 50 day simple moving average is $20.54 and its 200 day simple moving average is $20.87. International Game Technology PLC has a 1 year low of $18.56 and a 1 year high of $28.82. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The company has a market capitalization of $3.85 billion, a P/E ratio of 32.23 and a beta of 1.96.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.24). The company had revenue of $587.00 million for the quarter, compared to analyst estimates of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. On average, research analysts anticipate that International Game Technology PLC will post 1 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Tuesday, November 26th. International Game Technology’s payout ratio is presently 133.34%.

Wall Street Analysts Forecast Growth

IGT has been the topic of a number of recent research reports. StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Stifel Nicolaus increased their price objective on International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.67.

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.