Los Angeles Capital Management LLC Increases Stock Position in International Game Technology PLC (NYSE:IGT)

Posted by Defense World Staff on Aug 9th, 2023

Los Angeles Capital Management LLC lifted its holdings in International Game Technology PLC (NYSE:IGT – Free Report) by 10.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 15,908 shares of the company’s stock after purchasing an additional 1,551 shares during the period. Los Angeles Capital Management LLC’s holdings in International Game Technology were worth $426,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of IGT. Parkside Financial Bank & Trust lifted its position in shares of International Game Technology by 84.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock worth $29,000 after purchasing an additional 534 shares during the period. Penserra Capital Management LLC lifted its position in 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 acquiring an additional 518 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in International Game Technology during the first quarter valued at approximately $49,000. IFP Advisors Inc lifted its position in International Game Technology by 34.2% during the fourth quarter. IFP Advisors Inc now owns 1,899 shares of the company’s stock valued at $60,000 after acquiring an additional 484 shares during the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in International Game Technology during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

International Game Technology Trading Down 0.4 %

Shares of International Game Technology stock opened at $32.62 on Wednesday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.16 and a quick ratio of 0.99. The firm has a fifty day moving average price of $31.26 and a 200 day moving average price of $28.05. International Game Technology PLC has a 1 year low of $15.01 and a 1 year high of $33.99. The stock has a market cap of $6.49 billion, a PE ratio of 24.71 and a beta of 1.93.

International Game Technology (NYSE:IGT – Get Free Report) last issued its earnings results on Tuesday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Equities research analysts predict that International Game Technology PLC will post 1.77 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. Investors of record on Tuesday, August 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.45%. International Game Technology’s dividend payout ratio (DPR) is presently 60.61%.

Analyst Upgrades and Downgrades

IGT has been the subject of a number of analyst reports. B. Riley initiated coverage on shares of International Game Technology in a research report on Thursday, April 20th. They set a “buy” rating and a $43.00 target price for the company. StockNews.com cut shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Susquehanna raised their price target on shares of International Game Technology from $49.00 to $54.00 and gave the stock a “positive” rating in a report on Wednesday, August 2nd. Truist Financial raised their price target 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, Stifel Nicolaus raised their price target on shares of International Game Technology from $32.00 to $38.00 in a report on Monday, June 26th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $45.17.

Get Our Latest Stock 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.

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