International Game Technology PLC (NYSE:IGT) Shares Bought by Victory Capital Management Inc.

Posted by Defense World Staff on Oct 26th, 2022

Victory Capital Management Inc. raised its stake in International Game Technology PLC (NYSE:IGT – Get Rating) by 13.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 888,501 shares of the company’s stock after acquiring an additional 102,837 shares during the period. Victory Capital Management Inc. owned 0.44% of International Game Technology worth $16,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust boosted its stake in shares of International Game Technology by 84.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock worth $29,000 after buying an additional 534 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of International Game Technology during the first quarter worth about $34,000. Brown Brothers Harriman & Co. acquired a new stake in shares of International Game Technology during the first quarter worth about $49,000. Great West Life Assurance Co. Can boosted its stake in shares of International Game Technology by 35.1% during the first quarter. Great West Life Assurance Co. Can now owns 4,031 shares of the company’s stock worth $106,000 after buying an additional 1,048 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of International Game Technology during the first quarter worth about $181,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Trading Up 3.2 %

Shares of International Game Technology stock opened at $19.37 on Wednesday. International Game Technology PLC has a 12-month low of $15.01 and a 12-month high of $32.95. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt-to-equity ratio of 3.53. The stock has a market cap of $3.95 billion, a PE ratio of 25.16 and a beta of 1.80. The company has a 50-day moving average of $17.98 and a two-hundred day moving average of $19.61.

International Game Technology (NYSE:IGT – Get Rating) last issued its earnings results on Tuesday, August 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.26. International Game Technology had a net margin of 3.87% and a return on equity of 14.56%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, research analysts anticipate that International Game Technology PLC will post 0.82 EPS for the current fiscal year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 16th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.13%. International Game Technology’s dividend payout ratio (DPR) is presently 103.90%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IGT. Stifel Nicolaus decreased their target price on shares of International Game Technology from $36.00 to $26.00 in a research note on Monday, August 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of International Game Technology from $35.00 to $30.00 in a report on Wednesday, August 3rd. Truist Financial cut 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 report on Wednesday, July 20th. Finally, StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Monday, October 17th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $35.00.

International Game Technology Profile

(Get Rating)

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.