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

International Game Technology PLC (NYSE:IGT - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 4,470,000 shares, a growth of 31.5% from the March 15th total of 3,400,000 shares. Based on an average trading volume of 1,490,000 shares, the short-interest ratio is currently 3.0 days. Approximately 4.0% of the shares of the stock are short sold.

International Game Technology Stock Down 0.1 %

International Game Technology stock traded down $0.01 on Wednesday, hitting $16.50. 569,340 shares of the stock traded hands, compared to its average volume of 1,172,704. International Game Technology has a 1 year low of $13.81 and a 1 year high of $24.13. The firm has a market cap of $3.33 billion, a P/E ratio of 27.50 and a beta of 1.66. 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 business's fifty day simple moving average is $16.73 and its 200 day simple moving average is $18.05.

International Game Technology (NYSE:IGT - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $657.84 million. During the same quarter last year, the company posted $0.56 EPS. International Game Technology's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.85%. The ex-dividend date was Tuesday, March 11th. International Game Technology's dividend payout ratio (DPR) is 46.78%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IGT. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of International Game Technology in the fourth quarter worth $45,000. Sterling Capital Management LLC increased 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 in the last quarter. Inlight Wealth Management LLC bought a new stake in shares of International Game Technology during the 1st quarter valued at $85,000. Quarry LP boosted its holdings in International Game Technology by 103.9% in the 4th quarter. Quarry LP now owns 6,185 shares of the company's stock worth $109,000 after buying an additional 3,151 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in International Game Technology in the 4th quarter worth $188,000. Hedge funds and other institutional investors own 44.33% of the company's stock.

Analyst Upgrades and Downgrades

IGT has been the subject of a number of research reports. StockNews.com cut shares of International Game Technology from a "buy" rating to a "hold" rating in a research note on Monday, April 14th. Truist Financial cut their price target on shares of International Game Technology from $20.00 to $18.00 and set a "hold" rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus dropped their target price on International Game Technology from $26.00 to $22.00 and set a "buy" rating for the company in a report on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, International Game Technology presently has an average rating of "Moderate Buy" and a consensus target price of $25.75.

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.