International Game Technology PLC (NYSE:IGT) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in shares of International Game Technology PLC (NYSE:IGT) by 33.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,470 shares of the company’s stock after selling 53,211 shares during the quarter. Janney Montgomery Scott LLC owned about 0.05% of International Game Technology worth $2,918,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new position in shares of International Game Technology during the fourth quarter valued at approximately $25,000. Highlander Capital Management LLC acquired a new position in shares of International Game Technology in the fourth quarter worth about $27,000. Huntington National Bank increased its position in shares of International Game Technology by 113.2% in the third quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after acquiring an additional 489 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of International Game Technology during the fourth quarter valued at approximately $38,000. Finally, Altfest L J & Co. Inc. purchased a new stake in shares of International Game Technology in the 4th quarter valued at approximately $203,000. Institutional investors own 44.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IGT. Susquehanna lowered their price objective on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating on the stock in a research report on Thursday, May 16th. StockNews.com lowered International Game Technology from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 13th. B. Riley started coverage on International Game Technology in a research report on Friday, April 5th. They set a “buy” rating and a $30.00 price objective for the company. Argus dropped their target price on International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, Stifel Nicolaus restated a “hold” rating and set a $24.00 price target on shares of International Game Technology in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.67.

International Game Technology Price Performance

NYSE IGT opened at $19.67 on Friday. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.80 and a quick ratio of 0.67. The firm has a market cap of $3.91 billion, a P/E ratio of 18.73 and a beta of 1.94. The stock’s 50-day moving average is $20.70 and its two-hundred day moving average is $24.36. International Game Technology PLC has a fifty-two week low of $19.48 and a fifty-two week high of $33.99.

International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, May 14th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.17. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. The company’s revenue was up .7% on a year-over-year basis. On average, analysts anticipate that International Game Technology PLC will post 1.53 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.07%. International Game Technology’s payout ratio is presently 76.19%.

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.