Wellington Management Group LLP Decreases Stake in International Game Technology PLC (NYSE:IGT)

Wellington Management Group LLP trimmed its position in shares of International Game Technology PLC (NYSE:IGT) by 17.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,385,370 shares of the company’s stock after selling 286,645 shares during the quarter. Wellington Management Group LLP’s holdings in International Game Technology were worth $29,508,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new position in International Game Technology during the 3rd quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Game Technology during the second quarter worth $31,000. Blue Trust Inc. acquired a new position in shares of International Game Technology during the second quarter worth $44,000. Industrial Alliance Investment Management Inc. increased its holdings in 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 valued at $47,000 after buying an additional 1,160 shares during the last quarter. Finally, CWM LLC lifted its holdings in International Game Technology by 156.7% during the 2nd quarter. CWM LLC now owns 2,321 shares of the company’s stock worth $47,000 after buying an additional 1,417 shares during the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Stock Performance

Shares of IGT stock opened at $18.80 on Friday. The stock’s 50-day moving average is $20.16 and its two-hundred day moving average is $20.82. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. International Game Technology PLC has a 1 year low of $18.56 and a 1 year high of $28.82. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 31.33 and a beta of 1.91.

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

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Tuesday, November 26th. International Game Technology’s dividend payout ratio is currently 133.33%.

Wall Street Analyst Weigh In

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

International Game Technology Company 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.