Robeco Institutional Asset Management B.V. Sells 57,210 Shares of International Game Technology PLC (NYSE:IGT)

Posted by Defense World Staff on Aug 5th, 2023

Robeco Institutional Asset Management B.V. cut its holdings in shares of International Game Technology PLC (NYSE:IGT – Free Report) by 46.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,714 shares of the company’s stock after selling 57,210 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in International Game Technology were worth $1,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in International Game Technology by 84.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock worth $29,000 after buying an additional 534 shares in the last quarter. Penserra Capital Management LLC lifted its position in International Game Technology by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,554 shares of the company’s stock worth $41,000 after buying an additional 518 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in International Game Technology during the 1st quarter worth about $49,000. IFP Advisors Inc lifted its position in International Game Technology by 34.2% during the 4th quarter. IFP Advisors Inc now owns 1,899 shares of the company’s stock worth $60,000 after buying an additional 484 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new stake in shares of International Game Technology in the 4th quarter valued at about $64,000. 44.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IGT shares. B. Riley started coverage on shares of International Game Technology in a report on Thursday, April 20th. They issued a “buy” rating and a $43.00 target price on the stock. Truist Financial upped their target price on shares of International Game Technology from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday. Susquehanna upped their target price on shares of International Game Technology from $49.00 to $54.00 and gave the company a “positive” rating in a report on Wednesday. StockNews.com cut shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of International Game Technology from $32.00 to $38.00 in a report on Monday, June 26th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $45.17.

International Game Technology Stock Down 0.2 %

Shares of IGT opened at $32.50 on Friday. International Game Technology PLC has a 52 week low of $15.01 and a 52 week high of $33.99. The firm has a market cap of $6.47 billion, a P/E ratio of 24.62 and a beta of 1.93. The firm’s 50-day simple moving average is $30.94 and its 200 day simple moving average is $27.89. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.90 and a current ratio of 1.03.

International Game Technology (NYSE:IGT – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. International Game Technology had a net margin of 6.30% and a return on equity of 27.03%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, analysts forecast that International Game Technology PLC will post 1.63 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.46%. International Game Technology’s payout ratio is presently 60.61%.

About International Game Technology

(Free Report)

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, as well as iLottery solutions and services.

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