International Game Technology PLC (NYSE:IGT) Short Interest Update

International Game Technology PLC (NYSE:IGT - Get Free Report) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totalling 3,360,000 shares, a growth of 93.1% from the December 31st total of 1,740,000 shares. Based on an average daily trading volume, of 1,010,000 shares, the days-to-cover ratio is presently 3.3 days. Approximately 3.1% of the shares of the stock are sold short.

International Game Technology Trading Down 2.0 %

International Game Technology stock traded down $0.36 during mid-day trading on Friday, hitting $17.03. The company's stock had a trading volume of 1,049,279 shares, compared to its average volume of 1,258,454. The stock's fifty day moving average is $17.96 and its two-hundred day moving average is $20.06. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The firm has a market capitalization of $3.39 billion, a PE ratio of 28.38 and a beta of 1.92. International Game Technology has a 1 year low of $16.83 and a 1 year high of $27.27.

International Game Technology (NYSE:IGT - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.24). The company had revenue of $587.00 million during 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 revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. On average, analysts anticipate that International Game Technology will post 1.23 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Tuesday, November 26th. International Game Technology's payout ratio is 133.33%.

Institutional Trading of International Game Technology

Large investors have recently modified their holdings of the stock. Sei Investments Co. increased its holdings in International Game Technology by 0.3% during the 2nd quarter. Sei Investments Co. now owns 202,224 shares of the company's stock worth $4,137,000 after purchasing an additional 515 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of International Game Technology by 26.1% during the third quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company's stock worth $60,000 after buying an additional 579 shares during the period. Point72 DIFC Ltd raised its holdings in International Game Technology by 7.9% in the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company's stock valued at $274,000 after acquiring an additional 947 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of International Game Technology by 7.2% in the 3rd quarter. Victory Capital Management Inc. now owns 14,897 shares of the company's stock valued at $317,000 after purchasing an additional 996 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of International Game Technology by 5.1% during the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock worth $419,000 after purchasing an additional 1,145 shares during the last quarter. Hedge funds and other institutional investors own 44.33% of the company's stock.

Wall Street Analyst Weigh In

IGT has been the topic of several research reports. StockNews.com raised shares of International Game Technology from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Truist Financial dropped their price target on International Game Technology from $23.00 to $20.00 and set a "hold" rating for the company in a research report on Tuesday, January 14th. 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 MarketBeat.com, International Game Technology presently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

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.