HighTower Advisors LLC Buys 14,755 Shares of International Game Technology (IGT)
HighTower Advisors LLC boosted its stake in International Game Technology (NYSE:IGT) by 61.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,596 shares of the company’s stock after buying an additional 14,755 shares during the quarter. HighTower Advisors LLC’s holdings in International Game Technology were worth $698,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in International Game Technology by 38.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,989 shares of the company’s stock valued at $118,000 after buying an additional 1,398 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of International Game Technology during the 1st quarter worth $125,000. Pinnacle Associates Ltd. lifted its stake in shares of International Game Technology by 14.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 11,467 shares of the company’s stock worth $210,000 after purchasing an additional 1,445 shares during the period. Cadence Capital Management LLC lifted its stake in shares of International Game Technology by 18.2% during the 2nd quarter. Cadence Capital Management LLC now owns 12,670 shares of the company’s stock worth $232,000 after purchasing an additional 1,948 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of International Game Technology during the 2nd quarter worth $273,000. 39.01% of the stock is currently owned by hedge funds and other institutional investors.
International Game Technology (NYSE:IGT) opened at 23.62 on Friday. International Game Technology has a 52 week low of $17.25 and a 52 week high of $32.07. The stock’s market cap is $4.79 billion. The firm’s 50 day moving average price is $22.62 and its 200-day moving average price is $20.77.
International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $0.43 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts expect that International Game Technology will post $1.18 EPS for the current year.
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A number of research analysts have weighed in on IGT shares. BidaskClub raised International Game Technology from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine lowered International Game Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Bank of America Corporation raised International Game Technology from a “neutral” rating to a “buy” rating and increased their price target for the stock from $24.00 to $30.00 in a research note on Wednesday, September 20th. Finally, Deutsche Bank AG started coverage on International Game Technology in a research note on Tuesday, September 26th. They set a “buy” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $28.13.
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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