Allspring Global Investments Holdings LLC Sells 8,426 Shares of International Game Technology PLC (NYSE:IGT)

Allspring Global Investments Holdings LLC decreased its position in International Game Technology PLC (NYSE:IGT) by 34.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,306 shares of the company’s stock after selling 8,426 shares during the period. Allspring Global Investments Holdings LLC’s holdings in International Game Technology were worth $288,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC grew its stake in International Game Technology by 80.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,202,620 shares of the company’s stock worth $25,616,000 after purchasing an additional 537,330 shares during the period. FMR LLC grew its position in shares of International Game Technology by 19.4% during the 3rd quarter. FMR LLC now owns 3,050,447 shares of the company’s stock worth $64,975,000 after buying an additional 495,962 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of International Game Technology by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,132,193 shares of the company’s stock valued at $24,116,000 after acquiring an additional 164,935 shares in the last quarter. Barclays PLC lifted its position in shares of International Game Technology by 49.1% during the 3rd quarter. Barclays PLC now owns 291,626 shares of the company’s stock valued at $6,212,000 after acquiring an additional 96,019 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in International Game Technology during the third quarter worth $1,636,000. Institutional investors own 44.33% of the company’s stock.

International Game Technology Stock Performance

Shares of International Game Technology stock opened at $18.00 on Wednesday. International Game Technology PLC has a 52 week low of $16.42 and a 52 week high of $27.27. 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 business has a 50 day moving average price of $17.30 and a 200-day moving average price of $19.55. The company has a market cap of $3.58 billion, a PE ratio of 30.01 and a beta of 1.91.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IGT shares. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Truist Financial lowered their target price on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.00.

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.