Quad Capital Management Advisors LLC acquired a new stake in shares of International Game Technology (NYSE:IGT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,000 shares of the company’s stock, valued at approximately $928,000. International Game Technology comprises 0.4% of Quad Capital Management Advisors LLC’s portfolio, making the stock its 28th largest holding.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. TimesSquare Capital Management LLC acquired a new stake in shares of International Game Technology in the 3rd quarter worth approximately $62,053,000. Point72 Asset Management L.P. grew its holdings in International Game Technology by 40.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 6,632,396 shares of the company’s stock valued at $162,825,000 after buying an additional 1,908,038 shares during the last quarter. Renaissance Technologies LLC grew its holdings in International Game Technology by 62.3% during the 4th quarter. Renaissance Technologies LLC now owns 4,790,800 shares of the company’s stock valued at $127,004,000 after buying an additional 1,838,400 shares during the last quarter. Jennison Associates LLC grew its holdings in International Game Technology by 114.4% during the 4th quarter. Jennison Associates LLC now owns 2,132,681 shares of the company’s stock valued at $56,537,000 after buying an additional 1,138,049 shares during the last quarter. Finally, Rubric Capital Management LP acquired a new stake in International Game Technology during the 3rd quarter valued at $19,883,000. 40.68% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on IGT. Jefferies Group began coverage on International Game Technology in a report on Tuesday, February 20th. They set a “buy” rating and a $33.00 price objective on the stock. ValuEngine raised International Game Technology from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Bank of America set a $32.00 target price on International Game Technology and gave the stock a “buy” rating in a research report on Thursday, March 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $31.25.
NYSE:IGT opened at $26.01 on Friday. The stock has a market capitalization of $5,303.67, a P/E ratio of 17.11 and a beta of 1.55. International Game Technology has a one year low of $17.25 and a one year high of $30.82. The company has a debt-to-equity ratio of 3.30, a current ratio of 0.83 and a quick ratio of 0.75.
International Game Technology (NYSE:IGT) last issued its earnings results on Thursday, March 8th. The company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.37). The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.25 billion. International Game Technology had a negative net margin of 21.64% and a positive return on equity of 10.28%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. analysts predict that International Game Technology will post 1.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 5th. Stockholders of record on Thursday, March 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, March 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.08%. International Game Technology’s dividend payout ratio (DPR) is presently 52.63%.
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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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