Neuberger Berman Group LLC Decreases Stock Holdings in International Game Technology PLC (NYSE:IGT)

Neuberger Berman Group LLC cut its holdings in International Game Technology PLC (NYSE:IGTGet Rating) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,311,608 shares of the company’s stock after selling 67,232 shares during the quarter. Neuberger Berman Group LLC’s holdings in International Game Technology were worth $81,792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in International Game Technology by 84.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock valued at $29,000 after buying an additional 534 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in International Game Technology in the first quarter valued at about $34,000. Brown Brothers Harriman & Co. purchased a new stake in International Game Technology in the first quarter valued at about $49,000. Great West Life Assurance Co. Can raised its stake in International Game Technology by 35.1% in the first quarter. Great West Life Assurance Co. Can now owns 4,031 shares of the company’s stock valued at $106,000 after buying an additional 1,048 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in International Game Technology in the first quarter valued at about $181,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Stock Down 2.0 %

International Game Technology stock opened at $17.54 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 3.53. International Game Technology PLC has a 52 week low of $16.46 and a 52 week high of $32.95. The business’s 50-day moving average price is $19.18 and its 200 day moving average price is $20.97. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 22.78 and a beta of 1.82.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 16th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Monday, August 15th. International Game Technology’s payout ratio is currently 103.90%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on International Game Technology from $35.00 to $30.00 in a research note on Wednesday, August 3rd. Stifel Nicolaus reduced their price objective on International Game Technology from $36.00 to $26.00 in a research note on Monday, August 1st. Truist Financial reduced their price objective on International Game Technology from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Finally, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $35.00.

International Game Technology Company Profile

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International Game Technology PLC operates and provides gaming 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 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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Institutional Ownership by Quarter for International Game Technology (NYSE:IGT)

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