International Game Technology (NYSE:IGT) Sees Large Volume Increase - Here's What Happened

International Game Technology PLC (NYSE:IGT - Get Free Report) saw strong trading volume on Friday . 1,551,523 shares were traded during trading, an increase of 15% from the previous session's volume of 1,352,984 shares.The stock last traded at $16.88 and had previously closed at $16.73.

Analyst Ratings Changes

Several equities analysts have issued reports on IGT shares. Truist Financial decreased their price objective on shares of International Game Technology from $23.00 to $20.00 and set a "hold" rating on the stock in a report on Tuesday, January 14th. StockNews.com upgraded International Game Technology from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.00.

International Game Technology Stock Performance

The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The stock has a 50-day simple moving average of $17.64 and a 200 day simple moving average of $19.89. The company has a market capitalization of $3.33 billion, a PE ratio of 27.86 and a beta of 1.91.

International Game Technology (NYSE:IGT - Get Free Report) last released 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). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $587.00 million during the quarter, compared to analysts' expectations of $591.50 million. During the same quarter last year, the business earned $0.52 earnings per share. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts anticipate that International Game Technology PLC will post 1.23 EPS for the current fiscal year.

Institutional Trading of International Game Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in shares of International Game Technology by 4.2% during the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock worth $274,000 after purchasing an additional 622 shares during the period. Point72 DIFC Ltd lifted its position in shares of International Game Technology by 7.9% during the 3rd quarter. Point72 DIFC Ltd now owns 12,870 shares of the company's stock worth $274,000 after purchasing an additional 947 shares during the last quarter. Van ECK Associates Corp raised its holdings in International Game Technology by 5.1% in the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock valued at $419,000 after acquiring an additional 1,145 shares in the last quarter. Signaturefd LLC acquired a new position in International Game Technology in the 3rd quarter valued at approximately $26,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of International Game Technology by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company's stock valued at $990,000 after purchasing an additional 1,442 shares during the period. 44.33% of the stock is currently owned by institutional investors.

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.