Deprince Race & Zollo Inc. Buys New Holdings in International Game Technology PLC (IGT)

Deprince Race & Zollo Inc. bought a new stake in International Game Technology PLC (NYSE:IGT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 516,573 shares of the company’s stock, valued at approximately $7,557,000. Deprince Race & Zollo Inc. owned 0.25% of International Game Technology at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IGT. Rhumbline Advisers grew its stake in shares of International Game Technology by 2.1% in the 4th quarter. Rhumbline Advisers now owns 86,429 shares of the company’s stock valued at $1,264,000 after buying an additional 1,758 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in International Game Technology by 11.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 17,010 shares of the company’s stock worth $249,000 after purchasing an additional 1,810 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in International Game Technology during the fourth quarter worth approximately $37,000. Van ECK Associates Corp boosted its position in International Game Technology by 17.6% during the fourth quarter. Van ECK Associates Corp now owns 19,782 shares of the company’s stock worth $289,000 after purchasing an additional 2,957 shares during the period. Finally, Legal & General Group Plc boosted its position in International Game Technology by 4.7% during the third quarter. Legal & General Group Plc now owns 73,329 shares of the company’s stock worth $1,448,000 after purchasing an additional 3,282 shares during the period. Institutional investors own 48.14% of the company’s stock.

Shares of International Game Technology stock traded down $0.04 during trading on Friday, reaching $14.08. The company’s stock had a trading volume of 935,088 shares, compared to its average volume of 2,535,249. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 2.90. International Game Technology PLC has a one year low of $12.65 and a one year high of $31.00. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.12 and a beta of 1.31.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.11). The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. International Game Technology had a negative net margin of 0.44% and a positive return on equity of 7.64%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. As a group, sell-side analysts anticipate that International Game Technology PLC will post 1.26 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.80 annualized dividend and a dividend yield of 5.68%. International Game Technology’s payout ratio is currently 81.63%.

A number of equities research analysts have issued reports on the company. Credit Suisse Group reaffirmed a “neutral” rating on shares of International Game Technology in a research report on Wednesday, March 20th. ValuEngine cut International Game Technology from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 7th. SunTrust Banks raised International Game Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Finally, Deutsche Bank restated a “buy” rating and issued a $29.00 target price on shares of International Game Technology in a research note on Monday, December 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $23.64.

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International Game Technology Profile

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.

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Institutional Ownership by Quarter for International Game Technology (NYSE:IGT)

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