Folger Hill Asset Management LP Cuts Stake in International Game Technology (IGT)
Folger Hill Asset Management LP decreased its position in International Game Technology (NYSE:IGT) by 11.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 124,200 shares of the company’s stock after selling 15,800 shares during the period. Folger Hill Asset Management LP owned 0.06% of International Game Technology worth $3,170,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Crow Point Partners LLC bought a new position in shares of International Game Technology during the third quarter worth $146,000. Advisor Group Inc. increased its position in International Game Technology by 5,670.9% in the third quarter. Advisor Group Inc. now owns 6,348 shares of the company’s stock valued at $155,000 after buying an additional 6,238 shares in the last quarter. New York State Teachers Retirement System bought a new position in International Game Technology during the fourth quarter valued at approximately $212,000. National Asset Management Inc. bought a new position in International Game Technology during the third quarter valued at approximately $207,000. Finally, IBM Retirement Fund bought a new position in International Game Technology during the third quarter valued at approximately $225,000. Hedge funds and other institutional investors own 40.84% of the company’s stock.
International Game Technology (NYSE:IGT) traded down 0.25% on Thursday, reaching $27.42. 342,302 shares of the company’s stock were exchanged. The company has a market capitalization of $5.54 billion, a PE ratio of 107.11 and a beta of 1.51. International Game Technology has a 1-year low of $13.79 and a 1-year high of $32.07. The company has a 50 day moving average price of $26.75 and a 200-day moving average price of $25.66.
International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Monday, November 21st. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. International Game Technology had a return on equity of 12.45% and a net margin of 0.99%. The business earned $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that International Game Technology will post $1.97 earnings per share for the current year.
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Separately, Bank of America Corporation cut shares of International Game Technology from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Thursday, January 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $26.90.
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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