Cornercap Investment Counsel Inc. Has $521,000 Position in International Game Technology PLC (NYSE:IGT)

Cornercap Investment Counsel Inc. lowered its position in shares of International Game Technology PLC (NYSE:IGT) by 52.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,461 shares of the company’s stock after selling 27,015 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in International Game Technology were worth $521,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IGT. SG Americas Securities LLC boosted its holdings in shares of International Game Technology by 10.8% in the first quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock valued at $194,000 after buying an additional 836 shares during the period. ProShare Advisors LLC boosted its holdings in shares of International Game Technology by 8.5% in the first quarter. ProShare Advisors LLC now owns 19,523 shares of the company’s stock valued at $441,000 after buying an additional 1,536 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of International Game Technology by 9.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 34,009 shares of the company’s stock valued at $768,000 after buying an additional 3,000 shares during the period. Covestor Ltd boosted its holdings in shares of International Game Technology by 70.2% in the first quarter. Covestor Ltd now owns 3,539 shares of the company’s stock valued at $80,000 after buying an additional 1,460 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of International Game Technology by 38.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 122,000 shares of the company’s stock valued at $2,756,000 after buying an additional 34,000 shares during the period. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Stock Performance

NYSE IGT opened at $19.51 on Friday. The company has a current ratio of 2.36, a quick ratio of 0.71 and a debt-to-equity ratio of 2.85. The firm’s fifty day moving average price is $20.94 and its two-hundred day moving average price is $20.91. International Game Technology PLC has a 1 year low of $18.90 and a 1 year high of $28.82. The firm has a market capitalization of $3.88 billion, a P/E ratio of 32.52 and a beta of 1.96.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $587.00 million for the quarter, compared to the consensus estimate of $591.50 million. During the same period last year, the company posted $0.52 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, research analysts anticipate that International Game Technology PLC will post 1.2 EPS for the current year.

International Game Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.10%. The ex-dividend date is Tuesday, November 26th. International Game Technology’s dividend payout ratio (DPR) is currently 133.34%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IGT shares. Stifel Nicolaus upped their price target on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, B. Riley restated a “buy” rating and set a $30.00 target price on shares of International Game Technology in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.67.

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.