International Game Technology PLC (NYSE:IGT) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management lessened its stake in International Game Technology PLC (NYSE:IGT) by 49.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 568,591 shares of the company’s stock after selling 556,931 shares during the quarter. Picton Mahoney Asset Management’s holdings in International Game Technology were worth $15,586,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IGT. Venturi Wealth Management LLC acquired a new position in shares of International Game Technology during the fourth quarter worth $25,000. Highlander Capital Management LLC purchased a new stake in International Game Technology during the 4th quarter worth $27,000. Huntington National Bank lifted its holdings in International Game Technology by 113.2% in the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after buying an additional 489 shares in the last quarter. Allworth Financial LP boosted its position in International Game Technology by 770.0% in the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $29,000 after buying an additional 847 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of International Game Technology during the third quarter valued at about $164,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on IGT shares. Argus cut their price target on International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Stifel Nicolaus restated a “hold” rating and set a $26.00 price objective (down from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. B. Riley started coverage on International Game Technology in a research note on Friday, April 5th. They set a “buy” rating and a $30.00 target price for the company. Truist Financial decreased their price target on shares of International Game Technology from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Finally, StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, International Game Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

International Game Technology Stock Performance

IGT traded up $0.41 during trading hours on Tuesday, hitting $20.23. 1,087,101 shares of the stock were exchanged, compared to its average volume of 1,191,734. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 26.61 and a beta of 1.94. The stock has a 50-day simple moving average of $21.74 and a 200-day simple moving average of $24.98. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.26 and a quick ratio of 1.07. International Game Technology PLC has a 12 month low of $19.48 and a 12 month high of $33.99.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm posted $0.40 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts anticipate that International Game Technology PLC will post 1.46 earnings per share for the current year.

International Game Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th were paid a $0.20 dividend. The ex-dividend date was Monday, March 25th. This represents a $0.80 dividend on an annualized basis and a yield of 3.96%. International Game Technology’s payout ratio is currently 105.26%.

International Game Technology Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.