International Game Technology (IGT) Shares Bought by Utah Retirement Systems
Utah Retirement Systems boosted its position in International Game Technology (NYSE:IGT) by 15.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,800 shares of the company’s stock after acquiring an additional 2,700 shares during the quarter. Utah Retirement Systems’ holdings in International Game Technology were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IGT. LSV Asset Management bought a new position in International Game Technology in the first quarter valued at $170,000. Advisors Asset Management Inc. increased its stake in International Game Technology by 9.1% in the first quarter. Advisors Asset Management Inc. now owns 43,235 shares of the company’s stock valued at $1,025,000 after acquiring an additional 3,614 shares during the last quarter. Bank of New York Mellon Corp increased its stake in International Game Technology by 573.7% in the first quarter. Bank of New York Mellon Corp now owns 1,211,062 shares of the company’s stock valued at $28,701,000 after acquiring an additional 1,031,286 shares during the last quarter. Karp Capital Management Corp bought a new position in International Game Technology in the first quarter valued at $2,668,000. Finally, Sei Investments Co. increased its stake in International Game Technology by 0.5% in the first quarter. Sei Investments Co. now owns 110,024 shares of the company’s stock valued at $2,607,000 after acquiring an additional 505 shares during the last quarter. 39.01% of the stock is currently owned by institutional investors and hedge funds.
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A number of research analysts recently commented on IGT shares. Bank of America Corporation reissued a “neutral” rating and issued a $27.00 target price (up previously from $22.00) on shares of International Game Technology in a research note on Sunday, May 28th. BidaskClub raised International Game Technology from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine cut International Game Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, Telsey Advisory Group reduced their target price on International Game Technology from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, May 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. International Game Technology presently has a consensus rating of “Hold” and an average target price of $27.38.
International Game Technology (NYSE:IGT) opened at 22.24 on Friday. The company’s market cap is $4.51 billion. The company has a 50-day moving average price of $20.32 and a 200-day moving average price of $20.94. International Game Technology has a 1-year low of $17.25 and a 1-year high of $32.07.
International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.17). The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. International Game Technology had a positive return on equity of 10.35% and a negative net margin of 2.28%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. On average, analysts expect that International Game Technology will post $1.20 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Friday, August 11th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Wednesday, August 9th. International Game Technology’s payout ratio is currently -142.86%.
International Game Technology Company Profile
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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