Sasco Capital Inc. CT Lowers Stake in International Game Technology PLC (NYSE:IGT)

Sasco Capital Inc. CT trimmed its holdings in shares of International Game Technology PLC (NYSE:IGT) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,112,336 shares of the company’s stock after selling 54,570 shares during the period. International Game Technology makes up about 3.5% of Sasco Capital Inc. CT’s investment portfolio, making the stock its 7th largest holding. Sasco Capital Inc. CT owned 0.56% of International Game Technology worth $23,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. M&G Plc bought a new position in shares of International Game Technology during the 2nd quarter valued at $8,850,000. Solel Partners LP purchased a new position in International Game Technology in the 2nd quarter worth approximately $43,478,000. Seven Eight Capital LP bought a new position in shares of International Game Technology during the second quarter worth $1,182,000. SG Americas Securities LLC boosted its holdings in shares of International Game Technology by 10.8% during the 1st quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock valued at $194,000 after purchasing an additional 836 shares during the last quarter. Finally, Caprock Group LLC bought a new position in International Game Technology during the second quarter valued at approximately $1,252,000. Institutional investors own 44.33% of the company’s stock.

Analyst Upgrades and Downgrades

IGT has been the subject of a number of analyst reports. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. B. Riley reaffirmed a “buy” rating and issued a $30.00 price objective on shares of International Game Technology in a research note on Friday, July 26th. Finally, Stifel Nicolaus lifted their price target on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, International Game Technology has a consensus rating of “Moderate Buy” and an average target price of $28.67.

International Game Technology Stock Down 1.7 %

International Game Technology stock opened at $19.19 on Tuesday. International Game Technology PLC has a fifty-two week low of $18.90 and a fifty-two week high of $28.82. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The firm has a 50 day moving average price of $20.90 and a 200 day moving average price of $20.92. The company has a market capitalization of $3.82 billion, a PE ratio of 31.98 and a beta of 1.96.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.24). The business had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. Research analysts expect that International Game Technology PLC will post 1.16 earnings per share for the current year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.17%. International Game Technology’s payout ratio is currently 133.34%.

International Game Technology 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.