International Game Technology PLC (NYSE:IGT) shares sold by Los Angeles Capital Management LLC
Los Angeles Capital Management LLC reduced its position in International Game Technology PLC (New York Stock Exchange: IGT – Get a rating) by 46.6% in the first quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The company held 22,197 shares of the company after selling 19,400 shares during the quarter. Los Angeles Capital Management LLC’s holdings in International Game Technology were worth $548,000 at the end of the last quarter.
A number of other large investors have also recently changed their positions in IGT. Steward Partners Investment Advisory LLC increased its position in International Game Technology shares by 100.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company valued at $35,000 after purchasing an additional 600 shares during the period. Sigma Planning Corp acquired a new stake in International Game Technology during Q4, valued at approximately $211,000. Rockefeller Capital Management LP increased its stake in International Game Technology by 1,028.1% during the 4th 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. Measured Wealth Private Client Group LLC increased its stake in International Game Technology by 65.3% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 12,979 shares of the company valued at $320,000 after acquiring 5,128 additional shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in International Game Technology by 4.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,138 shares of the company valued at $322,000 after acquiring 437 additional shares in the last quarter. 44.33% of the shares are held by institutional investors and hedge funds.
A Wall Street analyst gives his opinion
Several analysts commented on IGT’s actions. StockNews.com downgraded International Game Technology from a “buy” rating to a “hold” rating in a Thursday, August 4 research note. Truist Financial reduced its price target on International Game Technology from $36.00 to $30.00 and set a “buy” rating for the company in a Wednesday, July 20 research note. Jefferies Financial Group downgraded International Game Technology from a “hold” rating to a “buy” rating and cut its stock price target from $30.00 to $26.00 in a Thursday research note May 12. Stifel Nicolaus reduced his price target on International Game Technology from $36.00 to $26.00 in a Monday, August 1 research note. Finally, Deutsche Bank Aktiengesellschaft reduced its price target on International Game Technology from $35.00 to $30.00 in a Wednesday, August 3 research note. One financial analyst gave the stock a hold rating and six gave the stock a buy rating. According to MarketBeat.com, International Game Technology currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.
Performance of international gaming technology stocks
IGT opened at $22.64 on Monday. The stock has a market capitalization of $4.61 billion, a P/E ratio of 29.40 and a beta of 1.83. The company has a debt ratio of 3.53, a current ratio of 1.56 and a quick ratio of 1.44. The stock’s 50-day simple moving average is $19.42 and its 200-day simple moving average is $22.59. International Game Technology PLC has a 1-year low of $16.46 and a 1-year high of $32.95.
International Game Technology Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30. Shareholders of record on Tuesday, August 16 will receive a dividend of $0.20 per share. This represents a dividend of $0.80 on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, August 15. International Game Technology’s dividend payout ratio (DPR) is currently 103.90%.
International Gaming Technology Company Profile
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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