SRS Capital Advisors Inc. Has $151,000 Stake in International Game Technology PLC (NYSE:IGT)

SRS Capital Advisors Inc. reduced its holdings in shares of International Game Technology PLC (NYSE:IGT) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,551 shares of the company’s stock after selling 1,028 shares during the period. SRS Capital Advisors Inc.’s holdings in International Game Technology were worth $151,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Point72 DIFC Ltd grew its stake in International Game Technology by 7.9% during the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock worth $274,000 after purchasing an additional 947 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of International Game Technology by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 14,897 shares of the company’s stock worth $317,000 after buying an additional 996 shares in the last quarter. Van ECK Associates Corp grew its position in shares of International Game Technology by 5.1% during the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock worth $419,000 after buying an additional 1,145 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of International Game Technology by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company’s stock valued at $990,000 after acquiring an additional 1,442 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of International Game Technology in the 4th quarter valued at $45,000. 44.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on IGT. StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Truist Financial reduced their target price on International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

International Game Technology Stock Performance

IGT opened at $17.98 on Thursday. International Game Technology PLC has a 1-year low of $16.42 and a 1-year high of $25.63. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 29.96 and a beta of 1.91. The company’s fifty day moving average price is $17.39 and its two-hundred day moving average price is $19.38. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). The business had revenue of $651.00 million during the quarter, compared to analyst estimates of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. On average, analysts expect that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.45%. International Game Technology’s payout ratio is 46.78%.

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.