International Game Technology PLC (NYSE:IGT) Stake cut by Prospera Financial Services Inc
Prospera Financial Services Inc reduced its stake in International Game Technology PLC (New York Stock Exchange: IGT – Get a rating) by 97.1% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission. The institutional investor held 1,314 shares of the company after selling 43,991 shares during the period. Prospera Financial Services Inc’s holdings in International Game Technology were worth $32,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of IGT. Steward Partners Investment Advisory LLC increased its stake in International Game Technology by 100.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company worth $35,000 after acquiring 600 additional shares in the last quarter. Sigma Planning Corp acquired a new stake in International Game Technology in Q4 for a value of approximately $211,000. Rockefeller Capital Management LP increased its stake in International Game Technology by 1,028.1% in the fourth quarter. Rockefeller Capital Management LP now owns 7,468 shares of the company worth $215,000 after acquiring 6,806 additional shares last quarter. Measured Wealth Private Client Group LLC increased its stake in International Game Technology by 65.3% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 12,979 shares of the company worth $320,000 after acquiring 5,128 additional shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of International Game Technology by 4.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,138 shares of the company worth $322,000 after buying 437 additional shares in the last quarter. 44.33% of the shares are held by hedge funds and other institutional investors.
A Wall Street analyst gives his opinion
IGT has been the subject of a number of recent research reports. Stifel Nicolaus reduced his price target on International Game Technology from $36.00 to $26.00 in a Monday, August 1 research note. Jefferies Financial Group upgraded International Game Technology from a “hold” rating to a “buy” rating and lowered its price target for the stock from $30.00 to $26.00 in a Thursday research note May 12. StockNews.com downgraded International Game Technology from a “buy” rating to a “hold” rating in a Thursday, August 4 research note. Deutsche Bank Aktiengesellschaft lowered its price target on International Game Technology from $35.00 to $30.00 in a Wednesday, August 3 report. Finally, Truist Financial lowered 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. One analyst rated the stock with a hold rating and six rated the company’s stock with a buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.
Performance of international gaming technology stocks
IGT opened at $21.99 on Friday. The company has a market capitalization of $4.48 billion, a P/E ratio of 28.56 and a beta of 1.83. The stock’s 50-day moving average price is $19.40 and its two-hundred-day moving average price is $22.66. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt ratio of 3.53. International Game Technology PLC has a 12-month low of $16.46 and a 12-month high of $32.95.
International game technology (New York Stock Exchange: IGT – Get a rating) last released its results on Tuesday, May 10. The company reported earnings per share (EPS) of $0.39 for the quarter, beating consensus analyst estimates of $0.34 by $0.05. International Game Technology achieved a return on equity of 14.56% and a net margin of 3.87%. The company posted revenue of $1.05 billion for the quarter, versus analyst estimates of $1.04 billion. In the same quarter last year, the company posted EPS of $0.38. The company’s revenue increased 3.5% year over year. On average, stock analysts expect International Game Technology PLC to post 1.36 earnings per share for the current year.
Announcing the International Gaming Technology 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 an annualized dividend of $0.80 and a dividend yield of 3.64%. The ex-dividend date is Monday, August 15. International Game Technology’s payout ratio is currently 103.90%.
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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