We will now move on to International Game Technology PLC (NYSE:IGT), a company that offers a range of services and technology products across lotteries, machine gaming, sports betting, and interactive gaming markets. Telsey Advisory Group upgraded IGT’s stock to ‘Outperform’ from ‘Market Perform’, pointing out the company’s strong cash flow as one of the factors behind the upgrade. Just a few days ago, International Game Technology’s subsidiary, GTECH Corporation, signed a four-year extension agreement with the Nebraska Lottery, under which GTECH is set to supply additional lottery equipment. This freshly-sealed deal will surely enhance the revenue stream generated from its long-term customer.
Turning our attention to hedge fund sentiment towards International Game Technology PLC (NYSE:IGT), there were 19 hedge funds from our database that owned the stock at the end of the recent quarter, compared to 33 reported in the earlier quarter. By the same token, the value of the total money invested in the stock decreased to $408.65 million from $1.52 billion. Jamie Zimmerman’s Litespeed Management and Daniel S. Och’s OZ Management are the top equity holders of International Game Technology within our database, owning 4.39 million shares and 4.37 million shares, respectively.