Stock Traders Purchase High Volume of International Game Technology Put Options (NYSE:IGT)

International Game Technology PLC (NYSE:IGT) was the recipient of unusually large options trading on Monday. Traders acquired 11,656 put options on the stock. This represents an increase of approximately 327% compared to the typical volume of 2,731 put options.

Analysts Set New Price Targets

Several brokerages have weighed in on IGT. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Truist Financial cut their target price on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its stake in shares of International Game Technology by 0.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock valued at $165,946,000 after acquiring an additional 47,442 shares in the last quarter. FMR LLC raised its position in International Game Technology by 19.4% in the 3rd quarter. FMR LLC now owns 3,050,447 shares of the company’s stock valued at $64,975,000 after purchasing an additional 495,962 shares during the last quarter. State Street Corp boosted its stake in shares of International Game Technology by 1.0% during the third quarter. State Street Corp now owns 2,103,275 shares of the company’s stock worth $44,800,000 after buying an additional 21,295 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of International Game Technology by 80.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,202,620 shares of the company’s stock worth $25,616,000 after purchasing an additional 537,330 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of International Game Technology by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,132,193 shares of the company’s stock valued at $24,116,000 after buying an additional 164,935 shares in the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.

International Game Technology Stock Down 2.3 %

Shares of IGT traded down $0.39 during mid-day trading on Monday, hitting $16.64. 996,981 shares of the company traded hands, compared to its average volume of 1,349,598. The business has a 50 day moving average of $17.96 and a 200 day moving average of $20.05. The company has a market capitalization of $3.31 billion, a PE ratio of 27.75 and a beta of 1.91. International Game Technology has a 1-year low of $16.42 and a 1-year high of $27.27. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.24). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $587.00 million during the quarter, compared to analyst estimates of $591.50 million. During the same period in the previous year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts anticipate that International Game Technology will post 1.23 EPS for the current year.

International Game Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 4.81%. International Game Technology’s dividend payout ratio is presently 133.34%.

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.