Investors shuffle stakes in IGT

Tuesday, Feb. 22, 2000 | 10:39 a.m.

A Beverly Hills investment advisory firm reported a 7.5 percent stake in International Game Technology, making it one of the largest institutional investors in the Reno company.

Pacific Financial Research Inc. said in a filing with the Securities and Exchange Commission that it holds 6.48 million IGT shares. No indication was given on when these purchases were made, although the filing is Pacific's first regarding an IGT stake. SEC rules require the filings to be made when an investor acquires more than 5 percent of a company's stock.

Separately, ESL Investments Inc. of Greenwich, Conn., reported holdings of 4.49 million IGT shares in a new filing. That's a 5.23 percent stake in the company.

Meanwhile, two large shareholders reported decreases in their holdings of IGT stock.

J.P. Morgan & Co. Inc., a large New York brokerage and investment firm, reported to the SEC that it now controls 8.09 million shares of stock. That's 9.4 percent control of IGT, but it is a 2 million-share decrease from its reported holdings last year.

Tiger Management LLC, a New York investment advisory firm, reported that it now holds no IGT stock. One year ago, it held 5.5 million shares, a 5.08 percent stake.