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

International Game Technology PLC (NYSE:IGT - Get Free Report) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 3,010,000 shares, an increase of 17.6% from the May 31st total of 2,560,000 shares. Currently, 2.8% of the company's stock are short sold. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Trading of International Game Technology

A number of hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in shares of International Game Technology during the 4th quarter valued at about $25,000. Highlander Capital Management LLC bought a new stake in International Game Technology during the fourth quarter valued at approximately $27,000. VisionPoint Advisory Group LLC purchased a new stake in International Game Technology during the fourth quarter valued at approximately $38,000. General Partner Inc. purchased a new stake in International Game Technology during the first quarter valued at approximately $45,000. Finally, Covestor Ltd raised its position in International Game Technology by 70.2% in the first quarter. Covestor Ltd now owns 3,539 shares of the company's stock worth $80,000 after acquiring an additional 1,460 shares during the period. Hedge funds and other institutional investors own 44.33% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of International Game Technology from a "hold" rating to a "buy" rating and lifted their target price for the company from $24.00 to $26.00 in a report on Thursday, May 30th. Susquehanna dropped their target price on International Game Technology from $40.00 to $33.00 and set a "positive" rating on the stock in a report on Thursday, May 16th. Truist Financial cut their target price on International Game Technology from $26.00 to $23.00 and set a "hold" rating on the stock in a research note on Wednesday, May 15th. Argus lowered their price target on International Game Technology from $30.00 to $27.00 and set a "buy" rating for the company in a research report on Wednesday, March 13th. Finally, B. Riley began coverage on shares of International Game Technology in a research note on Friday, April 5th. They issued a "buy" rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $28.00.

International Game Technology Stock Performance

NYSE:IGT traded up $0.38 during mid-day trading on Friday, reaching $20.46. The company's stock had a trading volume of 6,229,809 shares, compared to its average volume of 1,037,542. The company has a current ratio of 0.80, a quick ratio of 0.67 and a debt-to-equity ratio of 2.59. The stock has a market cap of $4.07 billion, a P/E ratio of 19.49 and a beta of 1.94. The firm's fifty day moving average price is $20.29 and its two-hundred day moving average price is $23.16. International Game Technology has a 12-month low of $18.90 and a 12-month high of $33.99.

International Game Technology (NYSE:IGT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.17. International Game Technology had a net margin of 4.98% and a return on equity of 20.84%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The business's revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts forecast that International Game Technology will post 1.53 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Thursday, May 30th. International Game Technology's payout ratio is currently 76.19%.

About International Game Technology

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.