SG Americas Securities LLC Sells 25,542 Shares of International Game Technology PLC (NYSE:IGT)

Posted by admin on Jul 23rd, 2022

SG Americas Securities LLC lowered its position in International Game Technology PLC (NYSE:IGT – Get Rating) by 16.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,162 shares of the company’s stock after selling 25,542 shares during the period. SG Americas Securities LLC’s holdings in International Game Technology were worth $3,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in IGT. Massachusetts Financial Services Co. MA lifted its stake in International Game Technology by 62.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,883,436 shares of the company’s stock worth $199,001,000 after purchasing an additional 2,639,187 shares during the last quarter. Broad Peak Investment Holdings Ltd. bought a new stake in International Game Technology in the fourth quarter worth about $56,895,000. 140 Summer Partners LP lifted its stake in International Game Technology by 164.4% in the fourth quarter. 140 Summer Partners LP now owns 2,556,259 shares of the company’s stock worth $73,901,000 after purchasing an additional 1,589,548 shares during the last quarter. Lazard Asset Management LLC lifted its stake in International Game Technology by 16.1% in the fourth quarter. Lazard Asset Management LLC now owns 5,986,714 shares of the company’s stock worth $173,074,000 after purchasing an additional 828,482 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in International Game Technology in the fourth quarter worth about $21,655,000. Institutional investors own 44.33% of the company’s stock.

Wall Street Analyst Weigh In

IGT has been the subject of several research analyst reports. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, June 15th. Jefferies Financial Group raised shares of International Game Technology from a “hold” rating to a “buy” rating and decreased their price target for the company from $30.00 to $26.00 in a research note on Thursday, May 12th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of International Game Technology from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. Finally, Truist Financial decreased their price target on shares of International Game Technology from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $38.67.

International Game Technology Price Performance

NYSE IGT opened at $18.07 on Friday. The firm’s fifty day simple moving average is $19.63 and its two-hundred day simple moving average is $23.41. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 3.51. International Game Technology PLC has a 12-month low of $16.46 and a 12-month high of $32.95. The firm has a market capitalization of $3.68 billion, a P/E ratio of 7.93 and a beta of 1.91.

International Game Technology (NYSE:IGT – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.05. International Game Technology had a net margin of 11.37% and a return on equity of 3.35%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts forecast that International Game Technology PLC will post 1.4 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 7th. Shareholders of record on Tuesday, May 24th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.43%. The ex-dividend date was Monday, May 23rd. International Game Technology’s dividend payout ratio is currently 35.09%.

International Game Technology Profile

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International Game Technology PLC operates and provides gaming 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 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.

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