Barclays boosted its stake in International Gaming Technologies (NYSE: IGT – Get Rating ) by 67.9% during the third quarter, according to the company’s most recent disclosure to the SEC. The fund owns 169,856 shares of the company after purchasing an additional 68,721 shares during the quarter. At the end of the most recent reporting period, Barclays owned approximately 0.08% of International Game Technology, worth $2,683,000.
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Other hedge funds and other institutional investors have also recently increased or decreased their stakes in the company. Trexquant Investment LP purchased a new stake in International Game Technology in the second quarter, valued at approximately $1,028,000. Raymond James & Associates increased its stake in International Game Technology by 2.0% in the third quarter. Raymond James & Associates now owns 228,725 shares of the company worth $3,614,000 after purchasing an additional 4,512 shares in the previous quarter. Saltoro Capital LP purchased a new stake in International Game Technology in the second quarter, valued at approximately $55,000. Measured Wealth Private Client Group LLC increased its stake in International Game Technology by 64.8 percent in the second quarter. Measured Wealth Private Client Group LLC now owns 21,390 shares of the company worth $397,000 after purchasing an additional 8,411 shares last quarter. Finally, WBI Investments Inc. purchased a new stake in International Game Technology in the third quarter, worth approximately $944,000. 44.33% of the shares are currently held by hedge funds and other institutional investors.
Wall Street analysts forecast growth
Separately, StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong buy” rating in a report on Tuesday, November 15th. Four investment analysts have rated the stock a buy and one has assigned a strong buy rating to the stock. According to MarketBeat.com, International Game Technology currently has a consensus rating of “Buy” and an average price target of $35.00.
International game tech deals up 1.6%
NYSE STOCK: IGT opened Thursday at $26.86. International Game Technology PLC had a 52-week low of $15.01 and a 52-week high of $30.84. The market cap is $5.47 billion, with a price-to-earnings ratio of 15.26 and a beta of 1.85. The company has a quick ratio of 1.01, a current ratio of 1.16, and a debt-to-equity ratio of 2.64. The company’s 50-day moving average is $24.22 and its 200-day moving average is $21.10.
International Game Technology (NYSE:IGT – Get Rating ) last reported earnings results on Tuesday, November 8th. The company reported EPS of $1.30 for the quarter, beating the consensus estimate of $0.24 to $1.06. The company’s revenue for the quarter was $1.06 billion, compared with analyst estimates of $1.01 billion. International Game Technology’s return on equity was 24.78%, and its net profit margin was 8.56%. International Game Technology’s revenue for the quarter rose 7.7% compared to the same period last year. In the same period last year, the company earned $0.31 per share. Equity analysts predict that International Game Technology PLC will post earnings per share of 1.92 this year.
International Gaming Technology Overview
International Game Technology PLC is engaged in the design, manufacture and marketing of electronic gaming equipment, software and network systems. It operates through the Global Lottery, Global Gaming and Digital & Gaming segments. The Global Lottery segment is responsible for the global traditional lottery and iLottery business, including sales, operations, product development, technology and support.
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