International Game Technology Target of Unusually High Options Trading (NYSE:IGT)

International Game Technology PLC (NYSE:IGT) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 8,015 call options on the company. This is an increase of 217% compared to the average volume of 2,531 call options.

Institutional Trading of International Game Technology

Several large investors have recently added to or reduced their stakes in IGT. Signaturefd LLC purchased a new position in International Game Technology during the 3rd quarter valued at about $26,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Game Technology during the second quarter worth approximately $31,000. Hexagon Capital Partners LLC grew its position in International Game Technology by 26.1% during the third quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company’s stock valued at $60,000 after purchasing an additional 579 shares in the last quarter. Acadian Asset Management LLC acquired a new position in International Game Technology in the 2nd quarter valued at approximately $107,000. Finally, Quarry LP lifted its position in International Game Technology by 99.1% in the 2nd quarter. Quarry LP now owns 5,460 shares of the company’s stock worth $112,000 after buying an additional 2,717 shares in the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.67.

International Game Technology Trading Up 0.2 %

Shares of NYSE:IGT traded up $0.04 during midday trading on Tuesday, reaching $17.43. The company had a trading volume of 190,722 shares, compared to its average volume of 1,105,066. The company has a fifty day simple moving average of $19.40 and a two-hundred day simple moving average of $20.55. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 29.05 and a beta of 1.91. International Game Technology has a 1-year low of $16.83 and a 1-year high of $27.69. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). The firm had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. International Game Technology’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 earnings per share. Research analysts predict that International Game Technology will post 1 earnings per share for the current year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Tuesday, November 26th. International Game Technology’s payout ratio is 133.33%.

International Game Technology Company Profile

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.