International Game Technology PLC (NYSE:IGT) Shares Purchased by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lifted its position in International Game Technology PLC (NYSE:IGT) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 285,105 shares of the company’s stock after purchasing an additional 22,105 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.14% of International Game Technology worth $6,441,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in International Game Technology by 6.4% during the 1st quarter. Bank of New York Mellon Corp now owns 13,871,989 shares of the company’s stock worth $313,368,000 after acquiring an additional 838,622 shares during the period. Capital Research Global Investors lifted its position in International Game Technology by 102.1% during the 4th quarter. Capital Research Global Investors now owns 6,193,990 shares of the company’s stock worth $169,777,000 after acquiring an additional 3,129,559 shares during the period. Parsifal Capital Management LP lifted its position in International Game Technology by 40.8% during the 4th quarter. Parsifal Capital Management LP now owns 4,290,025 shares of the company’s stock worth $117,590,000 after acquiring an additional 1,243,514 shares during the period. Wellington Management Group LLP lifted its position in International Game Technology by 23.1% during the 4th quarter. Wellington Management Group LLP now owns 2,717,801 shares of the company’s stock worth $74,495,000 after acquiring an additional 509,722 shares during the period. Finally, Norges Bank purchased a new position in shares of International Game Technology during the 4th quarter worth approximately $35,011,000. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Price Performance

NYSE:IGT traded up $3.61 during trading hours on Friday, reaching $23.77. 6,332,580 shares of the company traded hands, compared to its average volume of 1,336,559. The firm’s 50-day moving average is $20.46 and its 200-day moving average is $22.28. The stock has a market cap of $4.73 billion, a P/E ratio of 22.64 and a beta of 1.98. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.80 and a quick ratio of 0.67. International Game Technology PLC has a 1-year low of $18.90 and a 1-year high of $33.99.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.17. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue was up .7% on a year-over-year basis. Equities research analysts expect that International Game Technology PLC will post 1.4 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Thursday, May 30th. International Game Technology’s dividend payout ratio (DPR) is 76.19%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IGT shares. StockNews.com downgraded International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Stifel Nicolaus raised International Game Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $24.00 to $26.00 in a research note on Thursday, May 30th. B. Riley reissued a “buy” rating and set a $30.00 target price on shares of International Game Technology in a research note on Friday. Truist Financial cut their target price on International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a research note on Wednesday, May 15th. Finally, Susquehanna cut their target price on International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a research note on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.00.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.