International Game Technology Target of Unusually High Options Trading (NYSE:IGT)

International Game Technology PLC (NYSE:IGT - Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock traders purchased 20,956 call options on the stock. This represents an increase of approximately 1,078% compared to the typical volume of 1,779 call options.

Wall Street Analyst Weigh In

IGT has been the subject of several analyst reports. Stifel Nicolaus raised their price target on shares of International Game Technology from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. B. Riley restated a "buy" rating and set a $30.00 price target on shares of International Game Technology in a report on Friday, July 26th. Finally, StockNews.com lowered shares of International Game Technology from a "buy" rating to a "hold" rating in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.67.

International Game Technology Trading Down 0.3 %

Shares of IGT stock traded down $0.05 during trading hours on Friday, hitting $20.60. 1,695,816 shares of the company were exchanged, compared to its average volume of 1,128,045. The firm has a market cap of $4.10 billion, a P/E ratio of 19.61 and a beta of 1.95. International Game Technology has a fifty-two week low of $18.90 and a fifty-two week high of $30.55. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.71 and a current ratio of 0.84. The company has a 50 day simple moving average of $21.42 and a two-hundred day simple moving average of $20.91.

International Game Technology (NYSE:IGT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. The company's quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. Equities analysts anticipate that International Game Technology will post 1.48 EPS for the current year.

International Game Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.88%. International Game Technology's dividend payout ratio is presently 76.19%.

Hedge Funds Weigh In On International Game Technology

Several large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in International Game Technology by 23.1% during the 4th quarter. Wellington Management Group LLP now owns 2,717,801 shares of the company's stock worth $74,495,000 after acquiring an additional 509,722 shares during the last quarter. M&G Plc purchased a new position in International Game Technology during the second quarter worth about $8,850,000. Solel Partners LP bought a new stake in International Game Technology in the 2nd quarter worth about $43,478,000. Seven Eight Capital LP purchased a new stake in International Game Technology in the 2nd quarter valued at about $1,182,000. Finally, SG Americas Securities LLC increased its stake in International Game Technology by 10.8% in the 1st quarter. SG Americas Securities LLC now owns 8,607 shares of the company's stock valued at $194,000 after buying an additional 836 shares during the last quarter. Institutional investors own 44.33% of the company's stock.

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.