TCW Group Inc. Invests $734,000 in International Game Technology (IGT) Stock
TCW Group Inc. purchased a new position in shares of International Game Technology (NYSE:IGT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 29,900 shares of the company’s stock, valued at approximately $734,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IGT. PNC Financial Services Group Inc. increased its position in International Game Technology by 38.9% during the first quarter. PNC Financial Services Group Inc. now owns 4,989 shares of the company’s stock worth $118,000 after buying an additional 1,398 shares during the period. Pinnacle Associates Ltd. increased its position in International Game Technology by 14.4% during the second quarter. Pinnacle Associates Ltd. now owns 11,467 shares of the company’s stock worth $210,000 after buying an additional 1,445 shares during the period. Cadence Capital Management LLC increased its position in International Game Technology by 18.2% during the second quarter. Cadence Capital Management LLC now owns 12,670 shares of the company’s stock worth $232,000 after buying an additional 1,948 shares during the period. Canada Pension Plan Investment Board acquired a new position in International Game Technology during the second quarter worth approximately $273,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in International Game Technology during the second quarter worth approximately $283,000. 38.05% of the stock is currently owned by institutional investors.
IGT has been the topic of a number of recent research reports. Bank of America Corporation boosted their target price on International Game Technology from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank AG initiated coverage on International Game Technology in a report on Tuesday, September 26th. They issued a “buy” rating and a $30.00 target price on the stock. BidaskClub lowered International Game Technology from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, ValuEngine raised International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $28.63.
ILLEGAL ACTIVITY NOTICE: “TCW Group Inc. Invests $734,000 in International Game Technology (IGT) Stock” was first reported by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/tcw-group-inc-invests-734000-in-international-game-technology-igt-stock/1711813.html.
International Game Technology (NYSE IGT) traded down $0.26 during trading hours on Friday, hitting $28.54. The stock had a trading volume of 2,090,000 shares, compared to its average volume of 2,260,000. The firm has a market capitalization of $5,830.00 and a price-to-earnings ratio of 15.96. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.71 and a current ratio of 0.85. International Game Technology has a 1-year low of $17.25 and a 1-year high of $32.07.
International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.16. International Game Technology had a positive return on equity of 10.04% and a negative net margin of 18.62%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. analysts expect that International Game Technology will post 1.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th will be paid a $0.20 dividend. The ex-dividend date is Monday, November 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.80%.
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.