California Public Employees Retirement System lowered its position in shares of International Game Technology (NYSE:IGT) by 12.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 385,042 shares of the company’s stock after selling 53,282 shares during the quarter. California Public Employees Retirement System owned 0.19% of International Game Technology worth $7,046,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in IGT. PNC Financial Services Group Inc. raised its position in International Game Technology by 38.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,989 shares of the company’s stock worth $118,000 after buying an additional 1,398 shares during the last quarter. SG Americas Securities LLC purchased a new position in International Game Technology during the 1st quarter worth $125,000. Pinnacle Associates Ltd. raised its position in International Game Technology by 14.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 11,467 shares of the company’s stock worth $210,000 after buying an additional 1,445 shares during the last quarter. Cadence Capital Management LLC raised its position in International Game Technology by 18.2% during the 2nd quarter. Cadence Capital Management LLC now owns 12,670 shares of the company’s stock worth $232,000 after buying an additional 1,948 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in International Game Technology during the 2nd quarter worth $273,000. Institutional investors own 39.01% of the company’s stock.
A number of brokerages have commented on IGT. Deutsche Bank AG began coverage on shares of International Game Technology in a research report on Tuesday, September 26th. They set a “buy” rating and a $30.00 price objective for the company. Bank of America Corporation upgraded shares of International Game Technology from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $30.00 in a report on Wednesday, September 20th. ValuEngine upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of International Game Technology from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. International Game Technology presently has an average rating of “Hold” and an average price target of $28.13.
International Game Technology (NYSE:IGT) opened at 23.40 on Friday. International Game Technology has a one year low of $17.25 and a one year high of $32.07. The stock’s market cap is $4.75 billion. The stock has a 50 day moving average of $22.46 and a 200-day moving average of $20.79.
International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.17). International Game Technology had a negative net margin of 2.28% and a positive return on equity of 10.35%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. International Game Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. Analysts anticipate that International Game Technology will post $1.18 EPS for the current year.
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About International Game Technology
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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