Traders Buy Large Volume of Call Options on International Game Technology (NYSE:IGT)

International Game Technology PLC (NYSE:IGT - Get Free Report) saw unusually large options trading activity on Friday. Stock investors bought 4,565 call options on the company. This is an increase of approximately 53% compared to the average daily volume of 2,988 call options.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com raised International Game Technology from a "hold" rating to a "buy" rating in a research report on Tuesday, March 25th. Truist Financial cut 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 research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.25.

International Game Technology Stock Down 1.1 %

Shares of International Game Technology stock traded down $0.18 during trading on Tuesday, reaching $16.08. The company's stock had a trading volume of 1,756,795 shares, compared to its average volume of 1,153,115. International Game Technology has a 1-year low of $15.77 and a 1-year high of $24.13. The company has a 50-day simple moving average of $17.22 and a two-hundred day simple moving average of $18.74. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 26.81 and a beta of 1.86.

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International Game Technology (NYSE:IGT - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $657.84 million. During the same quarter in the previous year, the firm posted $0.56 EPS. International Game Technology's revenue was down 4.4% on a year-over-year basis. As a group, equities analysts forecast that International Game Technology will post 1.24 earnings per share for the current year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a $0.20 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.97%. International Game Technology's dividend payout ratio is currently 46.78%.

Institutional Investors Weigh In On International Game Technology

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in International Game Technology in the 4th quarter worth $45,000. Sterling Capital Management LLC raised its stake in shares of International Game Technology by 782.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,124 shares of the company's stock worth $55,000 after purchasing an additional 2,770 shares during the last quarter. Quarry LP lifted its holdings in shares of International Game Technology by 103.9% during the fourth quarter. Quarry LP now owns 6,185 shares of the company's stock worth $109,000 after purchasing an additional 3,151 shares during the period. Cibc World Markets Corp purchased a new stake in International Game Technology in the fourth quarter valued at approximately $188,000. Finally, Summit Investment Advisors Inc. increased its holdings in International Game Technology by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock worth $210,000 after buying an additional 655 shares during the period. 44.33% of the stock is owned by hedge funds and other 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.