Allspring Global Investments Holdings LLC Sells 556 Shares of International Game Technology PLC (NYSE:IGT)

Allspring Global Investments Holdings LLC reduced its position in International Game Technology PLC (NYSE:IGT) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,168 shares of the company’s stock after selling 556 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in International Game Technology were worth $443,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IGT. Wellington Management Group LLP boosted its stake in shares of International Game Technology by 36.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,208,079 shares of the company’s stock valued at $66,949,000 after purchasing an additional 594,552 shares in the last quarter. Invesco Ltd. boosted its stake in shares of International Game Technology by 2.3% in the 3rd quarter. Invesco Ltd. now owns 1,600,691 shares of the company’s stock valued at $48,533,000 after purchasing an additional 35,911 shares in the last quarter. Barclays PLC boosted its stake in shares of International Game Technology by 24.8% in the 3rd quarter. Barclays PLC now owns 105,878 shares of the company’s stock valued at $3,212,000 after purchasing an additional 21,029 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of International Game Technology by 2.2% in the 3rd quarter. Deutsche Bank AG now owns 257,852 shares of the company’s stock valued at $7,818,000 after purchasing an additional 5,648 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of International Game Technology by 770.0% in the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $29,000 after purchasing an additional 847 shares in the last quarter. 44.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 3rd. Truist Financial reduced their price target on shares of International Game Technology from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday. Argus cut their target price on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. B. Riley started coverage on shares of International Game Technology in a research report on Friday, April 5th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $29.00 target price (down from $36.00) on shares of International Game Technology in a research report on Thursday, January 4th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.00.

International Game Technology Stock Down 1.3 %

International Game Technology stock opened at $20.27 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.07 and a current ratio of 1.26. International Game Technology PLC has a 52-week low of $19.54 and a 52-week high of $33.99. The firm has a 50 day moving average price of $22.68 and a two-hundred day moving average price of $25.64. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 26.66 and a beta of 1.94.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.40 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Equities analysts predict that International Game Technology PLC will post 1.46 EPS for the current year.

International Game Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 25th. This represents a $0.80 annualized dividend and a yield of 3.95%. International Game Technology’s payout ratio is 105.26%.

International Game Technology Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. 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.