Point72 Asset Management L.P. grew its stake in International Game Technology (NYSE:IGT) by 40.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,632,396 shares of the company’s stock after purchasing an additional 1,908,038 shares during the period. International Game Technology makes up approximately 0.7% of Point72 Asset Management L.P.’s holdings, making the stock its 15th largest holding. Point72 Asset Management L.P. owned approximately 3.28% of International Game Technology worth $162,825,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Boothbay Fund Management LLC lifted its stake in shares of International Game Technology by 33.3% in the 3rd quarter. Boothbay Fund Management LLC now owns 36,545 shares of the company’s stock valued at $897,000 after purchasing an additional 9,127 shares during the period. 22NW LP bought a new stake in shares of International Game Technology in the 3rd quarter valued at $368,000. Synovus Financial Corp bought a new stake in shares of International Game Technology in the 3rd quarter valued at $316,000. OxFORD Asset Management LLP bought a new stake in shares of International Game Technology in the 3rd quarter valued at $2,945,000. Finally, Wells Fargo & Company MN increased its position in shares of International Game Technology by 91.2% in the 3rd quarter. Wells Fargo & Company MN now owns 110,039 shares of the company’s stock valued at $2,702,000 after buying an additional 52,497 shares in the last quarter. 40.64% of the stock is currently owned by institutional investors and hedge funds.
International Game Technology (IGT) traded down $1.02 during mid-day trading on Monday, hitting $26.67. 1,657,900 shares of the company traded hands, compared to its average volume of 1,531,314. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.70 and a current ratio of 0.84. International Game Technology has a 52 week low of $17.25 and a 52 week high of $29.36. The company has a market cap of $5,398.82, a price-to-earnings ratio of 15.51 and a beta of 1.56.
International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.16. International Game Technology had a negative net margin of 18.62% and a positive return on equity of 10.68%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm earned $0.45 EPS. The company’s revenue was down 3.6% on a year-over-year basis. equities analysts predict that International Game Technology will post 1.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, November 27th. This represents a $0.80 dividend on an annualized basis and a yield of 3.00%. International Game Technology’s dividend payout ratio is currently -17.78%.
IGT has been the subject of a number of recent analyst reports. Argus upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, November 29th. Deutsche Bank increased their price objective on shares of International Game Technology to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Bank of America raised their target price on shares of International Game Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Finally, ValuEngine upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $30.70.
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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.
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