Lazard Asset Management LLC cut its holdings in shares of International Game Technology (NYSE:IGT) by 18.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 406,053 shares of the company’s stock after selling 93,793 shares during the period. Lazard Asset Management LLC owned approximately 0.20% of International Game Technology worth $7,430,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of IGT. Peregrine Capital Management LLC acquired a new stake in shares of International Game Technology during the 2nd quarter valued at about $20,764,000. Bank of New York Mellon Corp grew its position in shares of International Game Technology by 573.7% during the 1st 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 period. FMR LLC grew its position in shares of International Game Technology by 37.8% during the 1st quarter. FMR LLC now owns 2,402,519 shares of the company’s stock valued at $56,940,000 after acquiring an additional 659,564 shares during the period. Alliancebernstein L.P. grew its position in shares of International Game Technology by 64.5% during the 1st quarter. Alliancebernstein L.P. now owns 892,907 shares of the company’s stock valued at $21,162,000 after acquiring an additional 350,000 shares during the period. Finally, Gamco Investors INC. ET AL grew its position in shares of International Game Technology by 1,269.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 268,053 shares of the company’s stock valued at $4,905,000 after acquiring an additional 248,481 shares during the period. Hedge funds and other institutional investors own 39.01% of the company’s stock.

Shares of International Game Technology (NYSE:IGT) opened at 23.46 on Monday. The firm’s market capitalization is $4.76 billion. International Game Technology has a 12-month low of $17.25 and a 12-month high of $32.07. The company has a 50-day moving average price of $20.52 and a 200 day moving average price of $20.79.

International Game Technology (NYSE:IGT) last issued its 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 positive return on equity of 10.35% and a negative net margin of 2.28%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts expect that International Game Technology will post $1.20 earnings per share for the current year.

A number of research firms have recently commented on IGT. Bank of America Corporation upgraded International Game Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $30.00 in a research report on Wednesday, September 20th. BidaskClub cut International Game Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine upgraded International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $27.50.

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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.

Institutional Ownership by Quarter for International Game Technology (NYSE:IGT)

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