International Game Technology Sees Unusually Large Options Volume (NYSE:IGT)

International Game Technology PLC (NYSE:IGT) was the recipient of some unusual options trading on Friday. Stock traders acquired 4,565 call options on the stock. This is an increase of approximately 53% compared to the typical daily volume of 2,988 call options.

Institutional Investors Weigh In On International Game Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Zacks Investment Management purchased a new position in International Game Technology in the 3rd quarter worth approximately $645,000. Stifel Financial Corp grew its holdings in shares of International Game Technology by 22.2% in the third quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock worth $1,197,000 after purchasing an additional 10,193 shares during the last quarter. BBR Partners LLC purchased a new position in shares of International Game Technology in the third quarter worth $639,000. Fox Run Management L.L.C. raised its holdings in International Game Technology by 283.6% during the 4th quarter. Fox Run Management L.L.C. now owns 71,033 shares of the company’s stock valued at $1,254,000 after buying an additional 52,516 shares during the last quarter. Finally, Barclays PLC boosted its position in International Game Technology by 49.1% during the 3rd quarter. Barclays PLC now owns 291,626 shares of the company’s stock valued at $6,212,000 after buying an additional 96,019 shares during the period. Institutional investors own 44.33% of the company’s stock.

Analysts Set New Price Targets

IGT has been the subject of several recent analyst reports. Truist Financial cut their price objective on International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, International Game Technology presently has an average rating of “Moderate Buy” and an average target price of $28.25.

International Game Technology Stock Performance

NYSE:IGT opened at $16.26 on Friday. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 27.09 and a beta of 1.86. The business has a 50 day moving average of $17.24 and a 200 day moving average of $18.81. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. International Game Technology has a 1-year low of $16.12 and a 1-year high of $24.13.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The company’s revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts predict that International Game Technology will post 1.24 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.92%. International Game Technology’s dividend payout ratio is currently 46.78%.

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.