Point72 Hong Kong Ltd Buys New Holdings in International Game Technology PLC (NYSE:IGT)

Point72 Hong Kong Ltd purchased a new position in International Game Technology PLC (NYSE:IGT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 76,814 shares of the company’s stock, valued at approximately $1,636,000.

A number of other large investors have also bought and sold shares of IGT. Signaturefd LLC bought a new position in shares of International Game Technology in the third quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Game Technology in the second quarter valued at about $31,000. Blue Trust Inc. bought a new position in shares of International Game Technology during the second quarter valued at about $44,000. Hexagon Capital Partners LLC boosted its holdings in shares of International Game Technology by 1,633.6% during the second quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company’s stock worth $45,000 after purchasing an additional 2,091 shares during the period. Finally, Industrial Alliance Investment Management Inc. grew its stake in shares of International Game Technology by 100.9% in the second quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock worth $47,000 after purchasing an additional 1,160 shares during the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Price Performance

IGT stock opened at $19.23 on Monday. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. International Game Technology PLC has a 1 year low of $18.56 and a 1 year high of $28.82. The firm has a 50-day moving average of $20.44 and a 200 day moving average of $20.86. The company has a market cap of $3.83 billion, a P/E ratio of 32.05 and a beta of 1.96.

International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $587.00 million during the quarter, compared to the consensus estimate of $591.50 million. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts forecast that International Game Technology PLC will post 1 EPS for the current year.

International Game Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Tuesday, November 26th. International Game Technology’s dividend payout ratio (DPR) is presently 133.34%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.67.

About International Game Technology

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.