Brookstone Capital Management Acquires New Position in International Game Technology (IGT)
Brookstone Capital Management acquired a new stake in shares of International Game Technology (NYSE:IGT) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 15,605 shares of the company’s stock, valued at approximately $286,000.
Other hedge funds have also modified their holdings of the company. Bank of Montreal Can raised its stake in shares of International Game Technology by 0.6% in the first quarter. Bank of Montreal Can now owns 70,886 shares of the company’s stock valued at $1,680,000 after buying an additional 436 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of International Game Technology during the first quarter worth about $468,000. LSV Asset Management purchased a new position in shares of International Game Technology during the first quarter worth about $170,000. Advisors Asset Management Inc. raised its position in shares of International Game Technology by 9.1% in the first quarter. Advisors Asset Management Inc. now owns 43,235 shares of the company’s stock worth $1,025,000 after buying an additional 3,614 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of International Game Technology by 14.8% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 6,200 shares of the company’s stock worth $147,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 39.01% of the company’s stock.
International Game Technology (IGT) opened at 19.79 on Tuesday. The company has a 50-day moving average price of $19.56 and a 200-day moving average price of $21.57. International Game Technology has a 52 week low of $17.25 and a 52 week high of $32.07. The stock’s market cap is $4.02 billion.
International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.17. International Game Technology had a positive return on equity of 10.35% and a negative net margin of 2.28%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm posted $0.43 earnings per share. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities research analysts anticipate that International Game Technology will post $1.20 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Friday, August 11th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.04%. International Game Technology’s dividend payout ratio (DPR) is -142.86%.
A number of brokerages recently issued reports on IGT. BidaskClub lowered International Game Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. ValuEngine lowered International Game Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Telsey Advisory Group reduced their target price on International Game Technology from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, May 26th. Finally, Bank of America Corporation restated a “neutral” rating and issued a $27.00 target price (up previously from $22.00) on shares of International Game Technology in a research note on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $27.38.
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.
Want to see what other hedge funds are holding IGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Game Technology (NYSE:IGT).
Receive News & Ratings for International Game Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Game Technology and related companies with Analyst Ratings Network's FREE daily email newsletter.