Visionary Asset Management Inc. Sells 1,945 Shares of International Game Technology (IGT)
Visionary Asset Management Inc. lowered its position in shares of International Game Technology (NYSE:IGT) by 10.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,259 shares of the company’s stock after selling 1,945 shares during the period. Visionary Asset Management Inc.’s holdings in International Game Technology were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Algert Global LLC bought a new position in International Game Technology during the 3rd quarter worth $431,000. Americafirst Capital Management LLC bought a new position in International Game Technology during the 3rd quarter worth $822,000. Scoggin Management LP bought a new position in International Game Technology during the 3rd quarter worth $12,275,000. Ladenburg Thalmann Financial Services Inc. increased its stake in International Game Technology by 3,030.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,644 shares of the company’s stock worth $286,000 after acquiring an additional 11,272 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in International Game Technology by 40.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 6,632,396 shares of the company’s stock worth $162,825,000 after acquiring an additional 1,908,038 shares during the period. Institutional investors own 40.64% of the company’s stock.
IGT has been the topic of a number of recent research reports. Bank of America raised their price objective on International Game Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Deutsche Bank raised their price objective on International Game Technology to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. ValuEngine upgraded International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Argus upgraded International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.70.
Shares of International Game Technology (IGT) traded down $0.10 during mid-day trading on Friday, hitting $27.05. The company’s stock had a trading volume of 617,200 shares, compared to its average volume of 1,520,568. The firm has a market cap of $5,495.98, a P/E ratio of 15.78 and a beta of 1.56. International Game Technology has a 52-week low of $17.25 and a 52-week high of $29.36. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.70 and a current ratio of 0.84.
International Game Technology (NYSE:IGT) last issued its 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. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. International Game Technology had a positive return on equity of 10.68% and a negative net margin of 18.62%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. analysts expect that International Game Technology will post 1.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Monday, November 27th. International Game Technology’s dividend payout ratio is presently -17.78%.
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International Game Technology Profile
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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