Calamos Advisors LLC invests $3.11 million in International Game Technology PLC (NYSE:IGT)
Calamos Advisors LLC bought a new position in shares of International Game Technology PLC (New York Stock Exchange: IGT – Get a rating) during the 1st trimester, HoldingsChannel reports. The fund purchased 126,196 shares of the company, valued at around $3,114,000.
Other institutional investors and hedge funds also changed their positions in the company. Steward Partners Investment Advisory LLC increased its holdings in International Game Technology by 100.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company valued at $35,000 after acquiring an additional 600 shares in the last quarter. National Bank of Canada FI acquired a new position in International Game Technology in the fourth quarter worth approximately $60,000. Sigma Planning Corp acquired a new position in International Game Technology in the fourth quarter worth approximately $211,000. Rockefeller Capital Management LP increased its holdings in International Game Technology by 1,028.1% in the fourth quarter. Rockefeller Capital Management LP now owns 7,468 shares of the company valued at $215,000 after acquiring an additional 6,806 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new position in International Game Technology in the fourth quarter valued at approximately $227,000. 44.33% of the shares are currently held by institutional investors and hedge funds.
International gaming technology stock down 3.1%
Shares of NYSEIGT opened at $18.07 on Monday. International Game Technology PLC has a 52 week low of $16.46 and a 52 week high of $32.95. The company’s 50-day moving average is $19.63 and its two-hundred-day moving average is $23.34. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt ratio of 3.51. The company has a market capitalization of $3.68 billion, a price-earnings ratio of 7.93 and a beta of 1.91.
International game technology (New York Stock Exchange: IGT – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported earnings per share of $0.39 for the quarter, beating analyst consensus estimates of $0.34 by $0.05. International Game Technology achieved a return on equity of 3.35% and a net margin of 11.37%. The company posted revenue of $1.05 billion for the quarter, compared to analysts’ estimates of $1.04 billion. In the same quarter of the previous year, the company had earned earnings per share of $0.38. The company’s revenue increased 3.5% year over year. Research analysts expect International Game Technology PLC to post EPS of 1.39 for the current year.
Announcing the International Gaming Technology Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 7. Shareholders of record on Tuesday, May 24 received a dividend of $0.20 per share. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Monday, May 23. International Game Technology’s dividend payout ratio is currently 35.09%.
A Wall Street analyst gives his opinion
A number of research companies have recently commented on IGT. Truist Financial cut its price target on International Game Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a Wednesday July 20 report. StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a Wednesday, June 15 research report. Deutsche Bank Aktiengesellschaft cut its price target on International Game Technology from $37.00 to $35.00 and set a “buy” rating on the stock in a Thursday, July 14 research report. Finally, Jefferies Financial Group downgraded International Game Technology from a “hold” rating to a “buy” rating and reduced its target price for the company from $30.00 to $26.00 in a Thursday research report. May 12. Seven equity research analysts rated the stock with a buy rating. Based on data from MarketBeat, International Game Technology has a consensus rating of “Buy” and a consensus price target of $38.67.
About International Gaming Technology
International Game Technology PLC operates and provides game technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America and the Caribbean. It operates in three segments: Global Lottery, Global Gaming and Digital & Betting. The company designs, sells, operates and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and the 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.
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