AlphaCrest Capital Management LLC Has $218,000 Stock Holdings in International Game Technology PLC (NYSE:IGT)

AlphaCrest Capital Management LLC trimmed its position in International Game Technology PLC (NYSE:IGT – Get Rating) by 20.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,780 shares of the company’s stock after selling 3,614 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in International Game Technology were worth $218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in shares of International Game Technology during the 2nd quarter worth approximately $1,028,000. Raymond James & Associates grew its holdings in International Game Technology by 2.0% during the 3rd quarter. Raymond James & Associates now owns 228,725 shares of the company’s stock worth $3,614,000 after acquiring an additional 4,512 shares during the period. Allianz Asset Management GmbH raised its position in shares of International Game Technology by 58.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 35,763 shares of the company’s stock valued at $565,000 after acquiring an additional 13,204 shares during the last quarter. Saltoro Capital LP bought a new stake in shares of International Game Technology during the 2nd quarter valued at $55,000. Finally, WBI Investments Inc. bought a new position in shares of International Game Technology in the 3rd quarter worth $944,000. 44.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stifel Nicolaus upped their price objective on International Game Technology from $27.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, February 7th. Credit Suisse Group upped their price target on International Game Technology from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of International Game Technology from $29.00 to $33.00 in a research note on Wednesday, March 1st. Finally, StockNews.com raised shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 15th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $37.20.

International Game Technology Trading Down 4.0 %

NYSE:IGT opened at $23.83 on Monday. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.15 and a quick ratio of 1.02. The business’s 50-day simple moving average is $25.71 and its 200-day simple moving average is $22.31. International Game Technology PLC has a fifty-two week low of $15.01 and a fifty-two week high of $27.82. The stock has a market capitalization of $4.74 billion, a PE ratio of 17.65 and a beta of 1.85.

International Game Technology (NYSE:IGT – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.07. International Game Technology had a net margin of 6.51% and a return on equity of 27.89%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. Sell-side analysts expect that International Game Technology PLC will post 1.74 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.36%. International Game Technology’s dividend payout ratio is currently 59.26%.

About International Game Technology

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International Game Technology PLC engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the Global Lottery, Global Gaming, and Digital & Betting segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support.