Jennison Associates LLC Buys 334,822 Shares of International Game Technology PLC (IGT)
Jennison Associates LLC lifted its stake in shares of International Game Technology PLC (NYSE:IGT) by 21.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,900,091 shares of the company’s stock after acquiring an additional 334,822 shares during the quarter. Jennison Associates LLC owned approximately 0.93% of International Game Technology worth $37,527,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in IGT. OppenheimerFunds Inc. lifted its holdings in International Game Technology by 0.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,469,132 shares of the company’s stock worth $150,342,000 after purchasing an additional 25,389 shares in the last quarter. Peregrine Capital Management LLC lifted its holdings in International Game Technology by 13.3% in the 3rd quarter. Peregrine Capital Management LLC now owns 1,486,846 shares of the company’s stock worth $29,365,000 after purchasing an additional 174,799 shares in the last quarter. Davidson Kempner Capital Management LP purchased a new position in International Game Technology in the 2nd quarter worth approximately $23,240,000. FMR LLC purchased a new position in International Game Technology in the 2nd quarter worth approximately $22,797,000. Finally, Mittleman Brothers LLC lifted its holdings in International Game Technology by 22.9% in the 3rd quarter. Mittleman Brothers LLC now owns 914,748 shares of the company’s stock worth $18,066,000 after purchasing an additional 170,715 shares in the last quarter. Institutional investors own 47.85% of the company’s stock.
IGT has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $35.00 price target on shares of International Game Technology in a report on Wednesday, August 1st. ValuEngine cut International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Credit Suisse Group assumed coverage on International Game Technology in a report on Tuesday, August 14th. They issued a “neutral” rating and a $24.00 price target on the stock. SunTrust Banks assumed coverage on International Game Technology in a report on Monday, October 1st. They set a “hold” rating and a $21.00 price objective on the stock. Finally, Societe Generale assumed coverage on International Game Technology in a report on Wednesday, October 17th. They set a “buy” rating and a $20.50 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.21.
International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.20 billion. International Game Technology had a return on equity of 11.52% and a net margin of 3.27%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. As a group, equities analysts forecast that International Game Technology PLC will post 1.1 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 4.95%. International Game Technology’s dividend payout ratio (DPR) is 52.63%.
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International Game Technology Company Profile
International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.
Further Reading: How to calculate the intrinsic value of a stock
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