Mittleman Brothers LLC lifted its position in International Game Technology PLC (NYSE:IGT) by 22.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 914,748 shares of the company’s stock after buying an additional 170,715 shares during the quarter. International Game Technology makes up 8.3% of Mittleman Brothers LLC’s investment portfolio, making the stock its 5th largest holding. Mittleman Brothers LLC’s holdings in International Game Technology were worth $18,066,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Clearline Capital LP purchased a new stake in shares of International Game Technology in the 2nd quarter valued at $4,892,000. Brookstone Capital Management grew its stake in International Game Technology by 39.8% during the 2nd quarter. Brookstone Capital Management now owns 19,893 shares of the company’s stock worth $462,000 after purchasing an additional 5,664 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in International Game Technology by 56.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 15,530 shares of the company’s stock worth $361,000 after purchasing an additional 5,628 shares in the last quarter. Marshall Wace LLP grew its stake in International Game Technology by 792.1% during the 2nd quarter. Marshall Wace LLP now owns 643,226 shares of the company’s stock worth $14,949,000 after purchasing an additional 571,127 shares in the last quarter. Finally, Zweig DiMenna Associates LLC grew its stake in International Game Technology by 19.9% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 486,869 shares of the company’s stock worth $9,616,000 after purchasing an additional 80,752 shares in the last quarter. Hedge funds and other institutional investors own 47.27% of the company’s stock.
IGT has been the subject of several analyst reports. SunTrust Banks initiated coverage on International Game Technology in a research note on Monday, October 1st. They set a “hold” rating and a $21.00 target price for the company. ValuEngine cut International Game Technology from a “sell” rating to a “strong sell” rating in a research note on Monday, October 8th. Credit Suisse Group initiated coverage on International Game Technology in a research note on Tuesday, August 14th. They set a “neutral” rating and a $24.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and set a $35.00 target price on shares of International Game Technology in a research note on Wednesday, August 1st. Finally, Societe Generale initiated coverage on International Game Technology in a research note on Wednesday, October 17th. They set a “buy” rating and a $20.50 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. International Game Technology has an average rating of “Buy” and a consensus target price of $27.36.
NYSE:IGT opened at $17.33 on Wednesday. The stock has a market cap of $3.69 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.30. International Game Technology PLC has a 1 year low of $15.01 and a 1 year high of $31.00. The company has a quick ratio of 0.88, a current ratio of 1.03 and a debt-to-equity ratio of 2.95.
International Game Technology (NYSE:IGT) last announced its earnings results on Wednesday, October 31st. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.20 billion. International Game Technology had a return on equity of 11.52% and a net margin of 3.27%. The business’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. As a group, research analysts forecast that International Game Technology PLC will post 1.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Wednesday, November 14th will be given a $0.20 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.62%. International Game Technology’s dividend payout ratio (DPR) is presently 52.63%.
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International Game Technology Company Profile
International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.
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