Xponance Inc. Purchases New Holdings in International Game Technology PLC (NYSE:IGT)

Posted by on Oct 3rd, 2023

Xponance Inc. purchased a new stake in shares of International Game Technology PLC (NYSE:IGT – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 13,364 shares of the company’s stock, valued at approximately $426,000.

A number of other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in International Game Technology by 48.0% during the 1st quarter. JPMorgan Chase & Co. now owns 435,238 shares of the company’s stock valued at $10,742,000 after purchasing an additional 141,105 shares in the last quarter. AlphaCrest Capital Management LLC bought a new stake in International Game Technology during the 1st quarter valued at about $374,000. Rhumbline Advisers increased its stake in International Game Technology by 1.6% during the 1st quarter. Rhumbline Advisers now owns 103,240 shares of the company’s stock valued at $2,548,000 after purchasing an additional 1,616 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in International Game Technology by 35.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,031 shares of the company’s stock valued at $106,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new stake in International Game Technology during the 1st quarter valued at about $212,000. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Stock Performance

Shares of NYSE IGT opened at $30.19 on Tuesday. The firm has a 50 day moving average of $31.74 and a 200 day moving average of $29.48. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.95. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 22.87 and a beta of 1.96. International Game Technology PLC has a 12-month low of $15.60 and a 12-month high of $33.99.

International Game Technology (NYSE:IGT – Get Free Report) last announced its earnings results 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. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. International Game Technology had a net margin of 6.30% and a return on equity of 27.29%. On average, research analysts anticipate 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 was paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.80 annualized dividend and a yield of 2.65%. International Game Technology’s dividend payout ratio (DPR) is 60.61%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of International Game Technology from $32.00 to $38.00 in a research note on Monday, June 26th. StockNews.com lowered shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 14th. Susquehanna lifted their price target on shares of International Game Technology from $49.00 to $54.00 and gave the stock a “positive” rating in a research note on Wednesday, August 2nd. Finally, Truist Financial reiterated a “buy” rating and issued a $37.00 price target on shares of International Game Technology in a research note on Friday, September 15th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $45.17.

Read Our Latest Analysis on International Game Technology

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.

Further Reading

Institutional Ownership by Quarter for International Game Technology (NYSE:IGT)

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