Altfest L J & Co. Inc. Invests $203,000 in International Game Technology PLC (NYSE:IGT)

Altfest L J & Co. Inc. acquired a new position in International Game Technology PLC (NYSE:IGT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,415 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC lifted its stake in shares of International Game Technology by 166.5% in the 3rd quarter. CWM LLC now owns 898 shares of the company’s stock worth $27,000 after purchasing an additional 561 shares during the period. Huntington National Bank raised its stake in International Game Technology by 113.2% during the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after acquiring an additional 489 shares during the period. Allworth Financial LP raised its stake in International Game Technology by 770.0% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after acquiring an additional 847 shares during the period. Parkside Financial Bank & Trust raised its stake in International Game Technology by 84.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock worth $29,000 after acquiring an additional 534 shares during the period. Finally, Industrial Alliance Investment Management Inc. bought a new stake in International Game Technology during the 2nd quarter worth approximately $37,000. Institutional investors own 44.33% of the company’s stock.

International Game Technology Stock Performance

IGT stock opened at $22.59 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.26 and a quick ratio of 1.07. The business has a 50-day moving average price of $24.86 and a 200 day moving average price of $27.03. The company has a market capitalization of $4.50 billion, a P/E ratio of 29.72 and a beta of 1.95. International Game Technology PLC has a 1-year low of $19.96 and a 1-year high of $33.99.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.11. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that International Game Technology PLC will post 1.48 EPS for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Investors of record on Tuesday, March 26th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 25th. This represents a $0.80 annualized dividend and a yield of 3.54%. International Game Technology’s dividend payout ratio (DPR) is presently 105.26%.

Analysts Set New Price Targets

A number of equities research analysts have commented on IGT shares. Stifel Nicolaus restated a “hold” rating and set a $26.00 target price (down previously from $30.00) on shares of International Game Technology in a research note on Wednesday, March 13th. Truist Financial cut their price objective on shares of International Game Technology from $30.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 13th. Argus cut their price objective on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $29.00 price objective (down from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Finally, StockNews.com raised shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, International Game Technology currently has an average rating of “Moderate Buy” and an average target price of $33.50.

About International Game Technology

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, as well as iLottery solutions and services.