BBR Partners LLC Acquires New Shares in International Game Technology PLC (NYSE:IGT)

BBR Partners LLC bought a new stake in International Game Technology PLC (NYSE:IGT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $639,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC acquired a new stake in shares of International Game Technology in the 3rd quarter valued at approximately $1,209,000. Massachusetts Financial Services Co. MA increased its stake in International Game Technology by 0.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock valued at $165,946,000 after purchasing an additional 47,442 shares in the last quarter. M&G Plc acquired a new stake in International Game Technology in the second quarter worth $8,850,000. Qsemble Capital Management LP raised its holdings in International Game Technology by 230.0% in the third quarter. Qsemble Capital Management LP now owns 42,941 shares of the company’s stock worth $915,000 after purchasing an additional 29,929 shares during the period. Finally, Solel Partners LP bought a new position in shares of International Game Technology during the second quarter worth $43,478,000. Institutional investors own 44.33% of the company’s stock.

Analyst Upgrades and Downgrades

IGT has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, International Game Technology currently has an average rating of “Moderate Buy” and an average target price of $28.67.

International Game Technology Price Performance

Shares of NYSE IGT opened at $19.34 on Thursday. The company has a fifty day moving average price of $20.54 and a 200 day moving average price of $20.87. The firm has a market cap of $3.85 billion, a PE ratio of 32.23 and a beta of 1.96. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. International Game Technology PLC has a 1-year low of $18.56 and a 1-year high of $28.82.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share 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 analyst estimates of $591.50 million. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. Research analysts predict that International Game Technology PLC will post 1 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.14%. International Game Technology’s dividend payout ratio (DPR) is presently 133.34%.

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.