Amalgamated Bank boosted its position in International Game Technology (NYSE:IGT) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,516 shares of the company’s stock after buying an additional 441 shares during the period. Amalgamated Bank’s holdings in International Game Technology were worth $320,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of International Game Technology during the fourth quarter worth about $45,299,000. FMR LLC increased its position in shares of International Game Technology by 188.8% in the fourth quarter. FMR LLC now owns 1,742,955 shares of the company’s stock worth $44,480,000 after buying an additional 1,139,365 shares during the period. Bank of New York Mellon Corp increased its position in shares of International Game Technology by 573.7% in the first quarter. Bank of New York Mellon Corp now owns 1,211,062 shares of the company’s stock worth $28,701,000 after buying an additional 1,031,286 shares during the period. Prudential Financial Inc. increased its position in shares of International Game Technology by 243.1% in the first quarter. Prudential Financial Inc. now owns 1,222,646 shares of the company’s stock worth $28,977,000 after buying an additional 866,281 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of International Game Technology by 64.5% in the first quarter. Alliancebernstein L.P. now owns 892,907 shares of the company’s stock worth $21,162,000 after buying an additional 350,000 shares during the period. Hedge funds and other institutional investors own 39.77% of the company’s stock.
Shares of International Game Technology (IGT) opened at 18.22 on Tuesday. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 14.78 and a beta of 1.41. The stock has a 50 day moving average of $19.04 and a 200 day moving average of $23.49. International Game Technology has a 1-year low of $17.25 and a 1-year high of $32.07.
International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Thursday, May 25th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by $0.19. International Game Technology had a return on equity of 11.97% and a net margin of 4.96%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the business earned $0.57 EPS. The business’s revenue was down 10.1% compared to the same quarter last year. Analysts predict that International Game Technology will post $1.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 22nd. Investors of record on Thursday, June 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Tuesday, June 6th. International Game Technology’s payout ratio is 65.04%.
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IGT has been the topic of a number of recent analyst reports. Argus downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. Wells Fargo & Company restated a “market perform” rating and issued a $25.50 price target on shares of International Game Technology in a research report on Wednesday, April 19th. Telsey Advisory Group dropped their price target on shares of International Game Technology from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, May 26th. ValuEngine downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Bank of America Corporation reiterated a “neutral” rating and issued a $27.00 price objective (up previously from $22.00) on shares of International Game Technology in a research note on Sunday, May 28th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $27.38.
International Game Technology Company Profile
International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.
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