Traders Purchase Large Volume of Put Options on International Game Technology (NYSE:IGT)

International Game Technology PLC (NYSE:IGT - Get Free Report) was the target of some unusual options trading on Monday. Traders purchased 11,656 put options on the stock. This is an increase of 327% compared to the typical volume of 2,731 put options.

Analyst Ratings Changes

Several research firms have recently weighed in on IGT. 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 report on Tuesday, January 14th. StockNews.com upgraded shares of International Game Technology from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Hedge Funds Weigh In On International Game Technology

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC bought a new position in International Game Technology in the third quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of International Game Technology during the 4th quarter worth $45,000. Hexagon Capital Partners LLC grew its position in shares of International Game Technology by 26.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company's stock worth $60,000 after buying an additional 579 shares in the last quarter. Point72 DIFC Ltd increased its stake in shares of International Game Technology by 7.9% during the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company's stock valued at $274,000 after buying an additional 947 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of International Game Technology by 4.2% in the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock valued at $274,000 after acquiring an additional 622 shares in the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Trading Down 1.3 %

Shares of IGT stock traded down $0.23 on Thursday, reaching $16.72. 597,472 shares of the company's stock were exchanged, compared to its average volume of 1,347,449. The company's fifty day simple moving average is $17.81 and its 200 day simple moving average is $19.97. International Game Technology has a 52 week low of $16.42 and a 52 week high of $27.27. 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 stock 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 earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.24). The business had revenue of $587.00 million for the quarter, compared to the consensus estimate of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share. As a group, analysts forecast that International Game Technology will post 1.23 EPS for the current year.

International Game Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were paid a $0.20 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a yield of 4.79%. International Game Technology's dividend payout ratio is currently 133.33%.

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.