International Game Technology PLC (NYSE:IGT) Shares Sold by Allspring Global Investments Holdings LLC

Posted by Defense World Staff on Jul 12th, 2023

Allspring Global Investments Holdings LLC reduced its position in International Game Technology PLC (NYSE:IGT – Free Report) by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,532 shares of the company’s stock after selling 3,852 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in International Game Technology were worth $497,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of IGT. O Shaughnessy Asset Management LLC increased its stake in International Game Technology by 42.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 17,247 shares of the company’s stock worth $391,000 after buying an additional 5,160 shares during the period. Neuberger Berman Group LLC raised its stake in shares of International Game Technology by 4.2% in the third quarter. Neuberger Berman Group LLC now owns 3,890,276 shares of the company’s stock valued at $61,414,000 after acquiring an additional 157,003 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in International Game Technology in the fourth quarter valued at $849,000. New York State Common Retirement Fund grew its stake in International Game Technology by 3.6% during the 4th quarter. New York State Common Retirement Fund now owns 75,732 shares of the company’s stock worth $1,718,000 after purchasing an additional 2,600 shares in the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in International Game Technology during the 4th quarter worth about $64,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Stock Up 0.6 %

IGT stock opened at $31.77 on Wednesday. The stock has a market cap of $6.32 billion, a P/E ratio of 29.69 and a beta of 1.93. The company has a current ratio of 1.03, a quick ratio of 0.90 and a debt-to-equity ratio of 2.96. International Game Technology PLC has a twelve month low of $15.01 and a twelve month high of $32.23. The company’s 50 day moving average is $28.46 and its two-hundred day moving average is $26.75.

International Game Technology (NYSE:IGT – Get Free Report) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.39 by $0.10. International Game Technology had a net margin of 5.17% and a return on equity of 28.84%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business earned $0.39 EPS. International Game Technology’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts expect that International Game Technology PLC will post 1.59 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 8th. Shareholders of record on Thursday, May 25th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Wednesday, May 24th. International Game Technology’s dividend payout ratio is currently 74.77%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IGT shares. StockNews.com initiated coverage on International Game Technology in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. Susquehanna upgraded shares of International Game Technology from a “neutral” rating to a “positive” rating and set a $31.00 price target for the company in a report on Thursday, May 11th. B. Riley began coverage on shares of International Game Technology in a research report on Thursday, April 20th. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of International Game Technology from $32.00 to $38.00 in a research report on Monday, June 26th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $40.17.

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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