Gabelli Funds LLC Has $4.03 Million Holdings in International Game Technology PLC (IGT)

Gabelli Funds LLC boosted its stake in International Game Technology PLC (NYSE:IGT) by 40.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 310,000 shares of the company’s stock after acquiring an additional 90,000 shares during the quarter. Gabelli Funds LLC’s holdings in International Game Technology were worth $4,027,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of IGT. Sigma Planning Corp purchased a new stake in International Game Technology during the first quarter valued at $170,000. Moors & Cabot Inc. purchased a new stake in International Game Technology during the first quarter valued at $160,000. Investors Research Corp purchased a new stake in International Game Technology in the first quarter worth about $100,000. Sanders Morris Harris LLC increased its position in International Game Technology by 91.8% in the first quarter. Sanders Morris Harris LLC now owns 423,600 shares of the company’s stock worth $5,502,000 after buying an additional 202,800 shares in the last quarter. Finally, Brookstone Capital Management purchased a new stake in International Game Technology in the first quarter worth about $479,000. Institutional investors and hedge funds own 49.21% of the company’s stock.

A number of brokerages have commented on IGT. Credit Suisse Group restated 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. International Game Technology currently has a consensus rating of “Buy” and a consensus target price of $23.64.

NYSE IGT opened at $13.80 on Wednesday. The stock has a market capitalization of $2.79 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.12 and a beta of 1.36. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.00. International Game Technology PLC has a twelve month low of $12.65 and a twelve month high of $31.00.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates 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 positive return on equity of 7.64% and a negative net margin of 0.44%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the company earned $0.02 EPS. Equities research analysts predict that International Game Technology PLC will post 1.22 earnings per share for the current fiscal year.

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International Game Technology Company 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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