RK Capital Management LLC trimmed its stake in International Game Technology (NYSE:IGT) by 7.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 541,833 shares of the company’s stock after selling 46,600 shares during the quarter. International Game Technology makes up about 2.0% of RK Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. RK Capital Management LLC owned about 0.27% of International Game Technology worth $9,916,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of IGT. Peregrine Capital Management LLC bought a new stake in International Game Technology in the second quarter valued at $20,764,000. Bank of New York Mellon Corp lifted its stake in 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 valued at $28,701,000 after buying an additional 1,031,286 shares during the last quarter. Prudential Financial Inc. lifted its stake in International Game Technology by 243.1% in the first quarter. Prudential Financial Inc. now owns 1,222,646 shares of the company’s stock valued at $28,977,000 after buying an additional 866,281 shares during the last quarter. FMR LLC lifted its stake in International Game Technology by 37.8% in the first quarter. FMR LLC now owns 2,402,519 shares of the company’s stock valued at $56,940,000 after buying an additional 659,564 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in International Game Technology by 64.5% in the first quarter. Alliancebernstein L.P. now owns 892,907 shares of the company’s stock valued at $21,162,000 after buying an additional 350,000 shares during the last quarter. Institutional investors own 39.01% of the company’s stock.
Shares of International Game Technology (IGT) traded up 3.35% during midday trading on Friday, hitting $22.24. 4,579,478 shares of the company were exchanged. The company’s 50 day moving average price is $20.32 and its 200 day moving average price is $20.94. International Game Technology has a one year low of $17.25 and a one year high of $32.07. The firm’s market cap is $4.51 billion.
International Game Technology (NYSE:IGT) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company earned $0.43 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. Equities analysts expect that International Game Technology will post $1.20 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Friday, August 11th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Wednesday, August 9th. International Game Technology’s dividend payout ratio (DPR) is -142.86%.
A number of equities research analysts have issued reports on the company. BidaskClub cut International Game Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Telsey Advisory Group cut their target price on International Game Technology from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, May 26th. Finally, Bank of America Corporation reiterated a “neutral” rating and issued a $27.00 target price (up from $22.00) on shares of International Game Technology in a research note on Sunday, May 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. International Game Technology currently has a consensus rating of “Hold” and a consensus 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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