OppenheimerFunds Inc. trimmed its position in International Game Technology (NYSE:IGT) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,532,969 shares of the company’s stock after selling 43,681 shares during the period. OppenheimerFunds Inc.’s holdings in International Game Technology were worth $173,189,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of IGT. DekaBank Deutsche Girozentrale grew its stake in International Game Technology by 101.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,790 shares of the company’s stock worth $116,000 after purchasing an additional 2,911 shares during the period. Cerebellum GP LLC purchased a new stake in International Game Technology in the fourth quarter worth $123,000. State of Alaska Department of Revenue purchased a new stake in International Game Technology in the fourth quarter worth $169,000. Sigma Planning Corp purchased a new stake in International Game Technology in the third quarter worth $214,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in International Game Technology in the fourth quarter worth $228,000. 41.32% of the stock is currently owned by institutional investors.
International Game Technology (NYSE IGT) opened at $26.49 on Friday. The stock has a market capitalization of $5,461.57, a price-to-earnings ratio of -5.89 and a beta of 1.57. The company has a current ratio of 0.84, a quick ratio of 0.70 and a debt-to-equity ratio of 2.66. International Game Technology has a 1-year low of $17.25 and a 1-year high of $29.89.
International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.16. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. International Game Technology had a positive return on equity of 10.68% and a negative net margin of 18.62%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. analysts predict that International Game Technology will post 1.23 EPS for the current year.
Several equities research analysts recently weighed in on the company. Jefferies Group assumed coverage on International Game Technology in a research note on Tuesday. They issued a “buy” rating and a $33.00 price target on the stock. ValuEngine cut International Game Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Bank of America increased their target price on International Game Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Argus raised International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, November 29th. Finally, Deutsche Bank increased their target price on International Game Technology to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.08.
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International Game Technology Company Profile
International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.
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