Two Sigma Advisers LP reduced its stake in International Game Technology (NYSE:IGT) by 75.2% during the 4th quarter, Holdings Channel reports. The firm owned 83,438 shares of the company’s stock after selling 253,300 shares during the period. Two Sigma Advisers LP’s holdings in International Game Technology were worth $2,212,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the business. Ellington Management Group LLC grew its stake in shares of International Game Technology by 50.0% in the 4th quarter. Ellington Management Group LLC now owns 27,600 shares of the company’s stock valued at $732,000 after purchasing an additional 9,200 shares during the last quarter. Kendall Capital Management purchased a new position in shares of International Game Technology in the 4th quarter valued at approximately $543,000. Caxton Associates LP purchased a new position in shares of International Game Technology in the 4th quarter valued at approximately $7,290,000. Dynamic Capital Management Ltd purchased a new position in shares of International Game Technology in the 4th quarter valued at approximately $729,000. Finally, Corsair Capital Management L.P. grew its stake in shares of International Game Technology by 5.6% in the 4th quarter. Corsair Capital Management L.P. now owns 153,061 shares of the company’s stock valued at $4,058,000 after purchasing an additional 8,061 shares during the last quarter. Institutional investors own 40.68% of the company’s stock.
International Game Technology stock opened at $26.01 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.75 and a debt-to-equity ratio of 3.30. International Game Technology has a 1-year low of $17.25 and a 1-year high of $30.82. The company has a market capitalization of $5,265.20, a P/E ratio of 17.11 and a beta of 1.55.
International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Thursday, March 8th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.37). International Game Technology had a negative net margin of 21.64% and a positive return on equity of 10.28%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the firm earned $0.88 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. equities analysts anticipate that International Game Technology will post 1.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 5th. Investors of record on Thursday, March 22nd were paid a $0.20 dividend. 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%.
A number of analysts recently weighed in on IGT shares. Jefferies Group set a $34.00 price target on International Game Technology and gave the company a “buy” rating in a research note on Friday, March 9th. Bank of America set a $32.00 price target on International Game Technology and gave the company a “buy” rating in a research note on Thursday, March 8th. Finally, ValuEngine upgraded International Game Technology from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. International Game Technology has an average rating of “Buy” and a consensus price target of $31.25.
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About International Game Technology
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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