Boston Partners Global Investors,.. recently announced the acquisition of new stake in International Game Technology PLC (NYSE:IGT). The institutional investor has increased its shareholding in the Consumer Cyclical company by 2.01% to 9.88 million shares with purchase of 0.19 million shares. This fresh investment now brings its stake to 4.83% valued currently at $97.38 million. In addition, BlackRock Fund Advisors raised its holdings by 3.31 million to 5.35 million shares. And Renaissance Technologies LLC has lifted its position by 25.08% or 0.55 million shares – to 2.73 million shares.
With over 1.05 million International Game Technology PLC (IGT) shares trading Tuesday and a closing price of $11.32 on the day, the dollar volume was approximately $11.92 million. The shares have shown a positive weekly performance of 5.89% and its price on 09/01/20 gained nearly 1.71%. Currently, there are 204.44M common shares owned by the public and among those 99.30M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for IGT have a consensus price objective of $11.06. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the International Game Technology PLC stock is 2.60 for the next 12 months. The average price target is -17.55% below its last price level and a downside to the estimated low will see the stock lose -126.4% over that period. But an upside of 24.53% will see the stock hit the forecast high price target while mean target price for the stock is $11.00.
The top 3 mutual fund holders in International Game Technology PLC are John Hancock III – Disciplined Va, Invesco Oppenheimer Global Fund, and iShares Russell 2000 ETF. John Hancock III – Disciplined Va owns 3.42 million shares of the company’s stock, all valued at over $33.68 million. The company bought an additional 53687.0 shares recently to bring their total holdings to about 1.67% of the shares outstanding. iShares Russell 2000 ETF sold 95914.0 shares to bring its total holdings to over 2.05 million shares at a value of $20.24 million. iShares Russell 2000 ETF now owns shares totaling to 1.00% of the shares outstanding.
Shares of International Game Technology PLC (NYSE: IGT) opened at $11.04, down -$0.09 from a prior closing price of $11.13. However, the script later closed the day at $11.32, up 1.71%. The company’s stock has a 5-day price change of 5.89% and 14.46% over the past three months. IGT shares are trading -24.38% year to date (YTD), with the 12-month market performance down to -0.96% lower. It has a 12-month low price of $3.59 and touched a high of $16.25 over the same period. Currently, 1.05 million shares have been traded, compared to an average intraday trading volume of 2.93 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.91%, 11.76%, and 6.97% respectively.
Institutional ownership of International Game Technology PLC (NYSE: IGT) shares accounts for 43.30% of the company’s 204.44M shares outstanding. Mutual fund holders own 16.83%, while other institutional holders and individual stakeholders account for 24.87% and — respectively.
It has a market capitalization of $2.27B and a beta (3y monthly) value of 1.95. The earnings-per-share (ttm) stands at -$2.89. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.96% over the week and 5.18% over the month.
Analysts forecast that International Game Technology PLC (IGT) will achieve an EPS of -$0.22 for the current quarter, $0.06 for the next quarter and $0.71 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.42 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was $0.21 a year ago. Earnings per share for the fiscal year are expected to increase by 41.00%, and 254.30% over the next financial year. EPS should grow at an annualized rate of -3.75% over the next five years, compared to -17.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate International Game Technology PLC (IGT) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 5 of the 9 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the IGT, a number of firms have released research notes about the stock. Susquehanna stated their Neutral rating for the stock in a research note on August 07, 2020, with the firm’s price target at. Credit Suisse coverage for the International Game Technology PLC (IGT) stock in a research note released on May 21, 2020 offered a Underperform rating with a price target of $5. Societe Generale was of a view on May 21, 2020 that the stock is Hold, while SunTrust gave the stock Hold rating on May 06, 2020, issuing a price target of. Argus on their part issued Hold rating on March 05, 2020.