Corebridge Financial Inc. Has $999,000 Position in International Game Technology PLC (NYSE:IGT)

Corebridge Financial Inc. lessened its holdings in International Game Technology PLC (NYSE:IGT) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 56,565 shares of the company’s stock after selling 4,270 shares during the quarter. Corebridge Financial Inc.’s holdings in International Game Technology were worth $999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Victory Capital Management Inc. boosted its position in International Game Technology by 4.2% during the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company’s stock worth $274,000 after acquiring an additional 622 shares during the period. Point72 DIFC Ltd increased its holdings in shares of International Game Technology by 7.9% in the 3rd quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock valued at $274,000 after purchasing an additional 947 shares during the period. Van ECK Associates Corp lifted its position in shares of International Game Technology by 5.1% in the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock worth $419,000 after purchasing an additional 1,145 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of International Game Technology by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company’s stock worth $990,000 after purchasing an additional 1,442 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in International Game Technology during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, March 25th. Truist Financial cut their price objective on International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.25.

International Game Technology Price Performance

NYSE IGT opened at $14.60 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The stock has a market capitalization of $2.95 billion, a PE ratio of 24.33 and a beta of 1.86. International Game Technology PLC has a 12-month low of $13.88 and a 12-month high of $24.13. The company has a 50 day moving average price of $17.09 and a two-hundred day moving average price of $18.61.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). The business had revenue of $651.00 million during the quarter, compared to analyst estimates of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. As a group, equities analysts predict that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s payout ratio is 46.78%.

About International Game Technology

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.