Dimensional Fund Advisors LP Lowers Stake in International Game Technology PLC (NYSE:IGT)

Dimensional Fund Advisors LP decreased its position in shares of International Game Technology PLC (NYSE:IGT) by 0.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 879,323 shares of the company’s stock after selling 2,151 shares during the period. Dimensional Fund Advisors LP’s holdings in International Game Technology were worth $15,529,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of International Game Technology during the 4th quarter worth $45,000. Sterling Capital Management LLC increased its stake in International Game Technology by 782.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock valued at $55,000 after purchasing an additional 2,770 shares during the last quarter. Cibc World Markets Corp purchased a new position in International Game Technology during the fourth quarter worth about $188,000. Summit Investment Advisors Inc. boosted its stake in International Game Technology by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company’s stock worth $210,000 after buying an additional 655 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in International Game Technology by 4.2% in the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company’s stock valued at $274,000 after buying an additional 622 shares during the period. Institutional investors and hedge funds own 44.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial cut their price objective on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus decreased their price target on shares of International Game Technology from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a research note on Monday, April 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.75.

International Game Technology Stock Performance

Shares of IGT stock opened at $17.25 on Friday. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The company has a market cap of $3.49 billion, a PE ratio of 28.76 and a beta of 1.61. The company’s fifty day simple moving average is $16.43 and its 200-day simple moving average is $17.75. International Game Technology PLC has a 52 week low of $13.81 and a 52 week high of $24.13.

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

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.64%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s dividend payout ratio (DPR) is 46.78%.

International Game Technology Company Profile

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.