UBS Group AG Boosts Stake in International Game Technology (NYSE:IGT)
UBS Group AG increased its position in International Game Technology (NYSE:IGT) by 3.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 55,002 shares of the company’s stock after buying an additional 1,928 shares during the period. UBS Group AG’s holdings in International Game Technology were worth $1,304,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in IGT. Janney Montgomery Scott LLC bought a new stake in shares of International Game Technology during the first quarter worth $468,000. Nationwide Fund Advisors boosted its stake in shares of International Game Technology by 69.1% in the first quarter. Nationwide Fund Advisors now owns 811,329 shares of the company’s stock worth $19,228,000 after buying an additional 331,474 shares during the last quarter. Boston Advisors LLC boosted its stake in shares of International Game Technology by 53.8% in the first quarter. Boston Advisors LLC now owns 564,336 shares of the company’s stock worth $13,375,000 after buying an additional 197,520 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of International Game Technology during the first quarter worth $628,000. Finally, Bank of Montreal Can boosted its stake in shares of International Game Technology by 0.6% in the first quarter. Bank of Montreal Can now owns 70,886 shares of the company’s stock worth $1,680,000 after buying an additional 436 shares during the last quarter. Institutional investors and hedge funds own 39.77% of the company’s stock.
International Game Technology (NYSE IGT) opened at 18.65 on Monday. The company has a 50-day moving average price of $19.04 and a 200-day moving average price of $23.49. International Game Technology has a one year low of $17.25 and a one year high of $32.07. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 15.13 and a beta of 1.41.
International Game Technology (NYSE:IGT) last posted its earnings results on Thursday, May 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.19. International Game Technology had a net margin of 4.96% and a return on equity of 11.97%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm posted $0.57 EPS. The business’s revenue was down 10.1% on a year-over-year basis. Equities research analysts anticipate that International Game Technology will post $1.55 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 22nd. Stockholders of record on Thursday, June 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Tuesday, June 6th. International Game Technology’s dividend payout ratio (DPR) is currently 65.04%.
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A number of brokerages have recently weighed in on IGT. Argus cut International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. Wells Fargo & Company reiterated a “market perform” rating and set 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 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. Bank of America Corporation reiterated a “neutral” rating and set a $27.00 price target (up from $22.00) on shares of International Game Technology in a research report on Sunday, May 28th. Finally, ValuEngine cut International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.38.
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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