Russell Investments Group Ltd. Has $1.60 Million Position in International Game Technology PLC (IGT)
Russell Investments Group Ltd. increased its stake in shares of International Game Technology PLC (NYSE:IGT) by 224.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,109 shares of the company’s stock after buying an additional 56,100 shares during the quarter. Russell Investments Group Ltd.’s holdings in International Game Technology were worth $1,602,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. OppenheimerFunds Inc. grew its position in International Game Technology by 0.4% during the second quarter. OppenheimerFunds Inc. now owns 6,469,132 shares of the company’s stock worth $150,342,000 after buying an additional 25,389 shares in the last quarter. Peregrine Capital Management LLC grew its position in International Game Technology by 13.3% during the third quarter. Peregrine Capital Management LLC now owns 1,486,846 shares of the company’s stock worth $29,365,000 after buying an additional 174,799 shares in the last quarter. Davidson Kempner Capital Management LP acquired a new stake in International Game Technology during the second quarter worth approximately $23,240,000. FMR LLC acquired a new stake in International Game Technology during the second quarter worth approximately $22,797,000. Finally, Marshall Wace LLP grew its position in International Game Technology by 792.1% during the second quarter. Marshall Wace LLP now owns 643,226 shares of the company’s stock worth $14,949,000 after buying an additional 571,127 shares in the last quarter. 51.70% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. Credit Suisse Group assumed coverage on International Game Technology in a research report on Tuesday, August 14th. They set a “neutral” rating and a $24.00 price target on the stock. 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 “hold” rating to a “sell” rating in a research note on Friday, September 7th. 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. Finally, Deutsche Bank cut their target price on International Game Technology from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. International Game Technology currently has an average rating of “Buy” and a consensus price target of $25.21.
International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.20 billion. International Game Technology had a return on equity of 11.52% and a net margin of 3.27%. International Game Technology’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, analysts expect that International Game Technology PLC will post 1.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 28th. Investors of record on Wednesday, November 14th were issued a $0.20 dividend. The ex-dividend date was Tuesday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.73%. International Game Technology’s payout ratio is 52.63%.
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About International Game Technology
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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