Cipher Capital LP Sells 65,083 Shares of International Game Technology (IGT)

Cipher Capital LP decreased its holdings in shares of International Game Technology (NYSE:IGT) by 42.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,170 shares of the company’s stock after selling 65,083 shares during the period. Cipher Capital LP’s holdings in International Game Technology were worth $2,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. grew its position in shares of International Game Technology by 9.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,280,449 shares of the company’s stock valued at $78,332,000 after acquiring an additional 386,229 shares during the period. Renaissance Technologies LLC grew its position in shares of International Game Technology by 104.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,791,500 shares of the company’s stock valued at $51,084,000 after acquiring an additional 1,428,700 shares during the period. Vanguard Group Inc. grew its position in shares of International Game Technology by 14.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,591,247 shares of the company’s stock valued at $47,420,000 after acquiring an additional 320,244 shares during the period. Dimensional Fund Advisors LP grew its position in shares of International Game Technology by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,921,569 shares of the company’s stock valued at $35,167,000 after acquiring an additional 12,899 shares during the period. Finally, Mittleman Brothers LLC grew its position in shares of International Game Technology by 2.9% during the 2nd quarter. Mittleman Brothers LLC now owns 1,780,584 shares of the company’s stock valued at $32,585,000 after acquiring an additional 50,748 shares during the period. 39.03% of the stock is owned by hedge funds and other institutional investors.

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A number of equities research analysts have recently issued reports on the stock. Deutsche Bank AG boosted their price objective on shares of International Game Technology to $34.00 and gave the company a “buy” rating in a research report on Monday. Bank of America Corporation boosted their price objective on shares of International Game Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. BidaskClub downgraded shares of International Game Technology from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, ValuEngine raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $29.63.

Shares of International Game Technology (IGT) traded down $0.04 during trading on Tuesday, reaching $28.50. 1,973,400 shares of the company traded hands, compared to its average volume of 1,547,258. The company has a market cap of $5,770.00 and a P/E ratio of 16.59. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.84 and a quick ratio of 0.70. International Game Technology has a one year low of $17.25 and a one year high of $32.07.

International Game Technology (NYSE:IGT) last issued its earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.16. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.16 billion. International Game Technology had a negative net margin of 18.62% and a positive return on equity of 10.68%. International Game Technology’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. analysts anticipate that International Game Technology will post 1.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.81%. The ex-dividend date is Monday, November 27th.

International Game Technology Profile

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.

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

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