Cornercap Investment Counsel Inc. Sells 19,748 Shares of International Game Technology PLC (NYSE:IGT)

Cornercap Investment Counsel Inc. lessened its stake in International Game Technology PLC (NYSE:IGT) by 27.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,476 shares of the company’s stock after selling 19,748 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in International Game Technology were worth $1,053,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Qsemble Capital Management LP boosted its stake in International Game Technology by 5.1% in the 2nd quarter. Qsemble Capital Management LP now owns 13,012 shares of the company’s stock worth $266,000 after purchasing an additional 631 shares during the period. Headlands Technologies LLC boosted its position in shares of International Game Technology by 112.9% during the second quarter. Headlands Technologies LLC now owns 7,778 shares of the company’s stock worth $159,000 after buying an additional 4,124 shares during the period. Caprock Group LLC bought a new position in shares of International Game Technology during the second quarter worth about $1,252,000. Acadian Asset Management LLC acquired a new stake in International Game Technology in the 2nd quarter valued at approximately $107,000. Finally, Rhumbline Advisers lifted its stake in International Game Technology by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 184,801 shares of the company’s stock valued at $3,781,000 after acquiring an additional 33,622 shares in the last quarter. Institutional investors own 44.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Susquehanna decreased their price target on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a research note on Thursday, May 16th. StockNews.com lowered shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. B. Riley restated a “buy” rating and set a $30.00 price objective on shares of International Game Technology in a research note on Friday, July 26th. Finally, Stifel Nicolaus lifted their target price on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, International Game Technology currently has an average rating of “Moderate Buy” and a consensus price target of $28.67.

International Game Technology Stock Up 0.8 %

International Game Technology stock opened at $21.55 on Friday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.84 and a quick ratio of 0.71. The company’s 50-day moving average is $21.56 and its 200-day moving average is $21.31. The firm has a market capitalization of $4.29 billion, a PE ratio of 20.52 and a beta of 1.96. International Game Technology PLC has a fifty-two week low of $18.90 and a fifty-two week high of $33.48.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. Sell-side analysts anticipate that International Game Technology PLC will post 1.48 earnings per share for the current year.

International Game Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 annualized dividend and a yield of 3.71%. International Game Technology’s dividend payout ratio is currently 76.19%.

About International Game Technology

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.