Amalgamated Bank Sells 2,308 Shares of International Game Technology PLC (NYSE:IGT)

Posted by Defense World Staff on Aug 10th, 2023

Amalgamated Bank cut its stake in shares of International Game Technology PLC (NYSE:IGT – Free Report) by 17.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,177 shares of the company’s stock after selling 2,308 shares during the quarter. Amalgamated Bank’s holdings in International Game Technology were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IGT. Parkside Financial Bank & Trust boosted its stake 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 valued at $29,000 after purchasing an additional 534 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of International Game Technology by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,554 shares of the company’s stock valued at $41,000 after buying an additional 518 shares during the period. IFP Advisors Inc grew its position in shares of 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. Brown Brothers Harriman & Co. bought a new position in shares of International Game Technology during the 1st quarter worth approximately $49,000. Finally, CoreCap Advisors LLC purchased a new position in shares of International Game Technology in the 4th quarter valued at approximately $64,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Stock Up 0.2 %

Shares of NYSE IGT opened at $32.69 on Thursday. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 24.77 and a beta of 1.93. International Game Technology PLC has a 1 year low of $15.01 and a 1 year high of $33.99. The stock’s 50-day simple moving average is $31.43 and its 200-day simple moving average is $28.08. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.99 and a current ratio of 1.16.

International Game Technology (NYSE:IGT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.11. International Game Technology had a net margin of 6.30% and a return on equity of 27.29%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. As a group, equities analysts anticipate that International Game Technology PLC will post 1.77 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The business 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 $0.20 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.45%. International Game Technology’s payout ratio is 60.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IGT. B. Riley started coverage on International Game Technology in a research report on Thursday, April 20th. They set a “buy” rating and a $43.00 target price on the stock. Stifel Nicolaus lifted their price objective on International Game Technology from $32.00 to $38.00 in a research note on Monday, June 26th. StockNews.com cut International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Truist Financial raised their price objective on shares of International Game Technology from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Susquehanna lifted their price objective on shares of International Game Technology from $49.00 to $54.00 and gave the company a “positive” rating in a research report on Wednesday, August 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, International Game Technology currently has a consensus rating of “Buy” and a consensus target price of $45.17.

Read Our Latest Research Report on IGT

International Game Technology Company Profile

(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.