30,900 Shares in International Game Technology (NYSE:IGT) Acquired by Trexquant Investment LP
Trexquant Investment LP bought a new position in International Game Technology (NYSE:IGT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,900 shares of the company’s stock, valued at approximately $565,000.
A number of other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its stake in International Game Technology by 37.8% in the first quarter. FMR LLC now owns 2,402,519 shares of the company’s stock worth $56,940,000 after buying an additional 659,564 shares during the period. Vanguard Group Inc. raised its stake in International Game Technology by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,271,003 shares of the company’s stock worth $53,822,000 after buying an additional 86,552 shares during the period. Mittleman Brothers LLC raised its stake in International Game Technology by 8.8% in the first quarter. Mittleman Brothers LLC now owns 1,729,836 shares of the company’s stock worth $40,997,000 after buying an additional 139,578 shares during the period. Morgan Stanley raised its stake in International Game Technology by 16.0% in the first quarter. Morgan Stanley now owns 1,374,633 shares of the company’s stock worth $32,579,000 after buying an additional 189,841 shares during the period. Finally, Renaissance Technologies LLC raised its stake in International Game Technology by 17.2% in the first quarter. Renaissance Technologies LLC now owns 1,362,800 shares of the company’s stock worth $32,298,000 after buying an additional 200,000 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.
International Game Technology (NYSE:IGT) opened at 19.48 on Friday. The stock has a 50 day moving average of $19.12 and a 200-day moving average of $22.06. International Game Technology has a one year low of $17.25 and a one year high of $32.07. The company’s market cap is $3.95 billion.
International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.17. International Game Technology had a negative net margin of 2.28% and a positive return on equity of 10.35%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the firm earned $0.43 EPS. International Game Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts predict that International Game Technology will post $1.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Friday, August 11th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.11%. The ex-dividend date is Wednesday, August 9th. International Game Technology’s dividend payout ratio is currently -142.86%.
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A number of analysts recently weighed in on IGT shares. Bank of America Corporation reaffirmed a “neutral” rating and set a $27.00 target price (up previously from $22.00) on shares of International Game Technology in a report on Sunday, May 28th. BidaskClub raised shares of International Game Technology from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $25.50 target price on shares of International Game Technology in a report on Wednesday, April 19th. Telsey Advisory Group decreased their target price on shares of International Game Technology from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, May 26th. Finally, ValuEngine lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.38.
About International Game Technology
International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.
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