Semanteon Capital Management LP Invests $1.18 Million in International Game Technology PLC (NYSE:IGT)

Semanteon Capital Management LP purchased a new position in International Game Technology PLC (NYSE:IGT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 42,896 shares of the company’s stock, valued at approximately $1,176,000.

A number of other large investors have also recently made changes to their positions in IGT. Cornercap Investment Counsel Inc. bought a new stake in International Game Technology during the fourth quarter valued at $1,015,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in International Game Technology by 2.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,393 shares of the company’s stock valued at $1,354,000 after buying an additional 973 shares during the period. Highlander Capital Management LLC bought a new stake in International Game Technology during the fourth quarter valued at $27,000. Venturi Wealth Management LLC bought a new stake in International Game Technology during the fourth quarter valued at $25,000. Finally, Coastline Trust Co bought a new stake in International Game Technology during the fourth quarter valued at $288,000. 44.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IGT. B. Riley began coverage on International Game Technology in a research note on Friday, April 5th. They set a “buy” rating and a $30.00 price objective for the company. Jefferies Financial Group restated a “hold” rating and set a $29.00 price target (down previously from $36.00) on shares of International Game Technology in a research report on Thursday, January 4th. StockNews.com upgraded International Game Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus restated a “hold” rating and set a $26.00 price target (down previously from $30.00) on shares of International Game Technology in a research report on Wednesday, March 13th. Finally, Truist Financial lowered their price target on International Game Technology from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

International Game Technology Price Performance

NYSE IGT traded down $0.27 during trading hours on Thursday, reaching $20.27. 632,002 shares of the stock traded hands, compared to its average volume of 1,206,679. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 26.66 and a beta of 1.94. The stock has a 50 day simple moving average of $22.68 and a two-hundred day simple moving average of $25.64. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.26 and a quick ratio of 1.07. International Game Technology PLC has a 1 year low of $19.54 and a 1 year high of $33.99.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, March 12th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. On average, analysts predict that International Game Technology PLC will post 1.46 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th were issued a $0.20 dividend. The ex-dividend date was Monday, March 25th. This represents a $0.80 annualized dividend and a dividend yield of 3.95%. International Game Technology’s dividend payout ratio is currently 105.26%.

International Game Technology 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.