Fox Run Management L.L.C. Has $1.25 Million Stake in International Game Technology PLC (NYSE:IGT)

Fox Run Management L.L.C. increased its position in International Game Technology PLC (NYSE:IGT) by 283.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 71,033 shares of the company’s stock after acquiring an additional 52,516 shares during the period. Fox Run Management L.L.C.’s holdings in International Game Technology were worth $1,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IGT. Quantbot Technologies LP bought a new stake in International Game Technology in the fourth quarter worth approximately $2,154,000. Intech Investment Management LLC boosted its holdings in International Game Technology by 82.9% in the fourth quarter. Intech Investment Management LLC now owns 42,974 shares of the company’s stock worth $759,000 after purchasing an additional 19,481 shares in the last quarter. Cibc World Markets Corp acquired a new position in International Game Technology during the fourth quarter worth $188,000. BBR Partners LLC increased its position in International Game Technology by 16.7% during the fourth quarter. BBR Partners LLC now owns 35,000 shares of the company’s stock worth $618,000 after buying an additional 5,000 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in International Game Technology during the fourth quarter valued at about $630,000. Institutional investors own 44.33% of the company’s stock.

International Game Technology Trading Down 0.6 %

Shares of NYSE:IGT opened at $17.04 on Friday. 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 stock’s 50-day moving average is $17.30 and its 200-day moving average is $18.99. The company has a market cap of $3.44 billion, a P/E ratio of 28.39 and a beta of 1.86. International Game Technology PLC has a 52-week low of $16.42 and a 52-week high of $24.13.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $651.00 million during the quarter, compared to analyst estimates of $657.84 million. During the same period last year, the business earned $0.56 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts predict that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.70%. The ex-dividend date is Tuesday, March 11th. International Game Technology’s payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IGT. Truist Financial lowered their price objective on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. StockNews.com downgraded International Game Technology from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.25.

International Game Technology Company 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.