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

International Game Technology PLC (NYSE:IGT) was the recipient of unusually large options trading on Friday. Investors acquired 4,565 call options on the company. This represents an increase of approximately 53% compared to the average volume of 2,988 call options.

International Game Technology Stock Performance

Shares of IGT opened at $16.26 on Friday. The firm has a market cap of $3.28 billion, a PE ratio of 27.09 and a beta of 1.86. The stock’s fifty day moving average price is $17.24 and its two-hundred day moving average price is $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 the consensus estimate of $0.32 by ($0.10). The firm had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. On average, equities research analysts forecast that International Game Technology will post 1.24 EPS for the current year.

International Game Technology Announces Dividend

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

Institutional Investors Weigh In On International Game Technology

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IGT. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial lowered their target price on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, International Game Technology presently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

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.