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

International Game Technology PLC (NYSE:IGT - Get Free Report) saw some unusual options trading activity on Friday. Traders purchased 5,466 call options on the company. This represents an increase of approximately 159% compared to the typical daily volume of 2,109 call options.

Hedge Funds Weigh In On International Game Technology

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in International Game Technology during the 4th quarter worth approximately $25,616,000. Lazard Asset Management LLC raised its position in International Game Technology by 13.1% in the fourth quarter. Lazard Asset Management LLC now owns 10,927,433 shares of the company's stock valued at $192,978,000 after purchasing an additional 1,267,625 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of International Game Technology during the fourth quarter worth $19,453,000. Beryl Capital Management LLC acquired a new position in shares of International Game Technology during the fourth quarter worth $15,213,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in International Game Technology by 10.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company's stock valued at $151,495,000 after acquiring an additional 787,543 shares in the last quarter. Institutional investors own 44.33% of the company's stock.

International Game Technology Trading Up 0.2 %

Shares of NYSE:IGT traded up $0.03 during midday trading on Monday, hitting $16.40. 1,131,992 shares of the stock were exchanged, compared to its average volume of 1,174,438. The business's 50-day moving average price is $16.66 and its 200 day moving average price is $17.95. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 27.33 and a beta of 1.66. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. International Game Technology has a 12 month low of $13.81 and a 12 month high of $24.13.

International Game Technology (NYSE:IGT - Get Free Report) last released its 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 net margin of 4.17% and a return on equity of 16.17%. The company had revenue of $651.00 million during the quarter, compared to analysts' expectations of $657.84 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The firm's revenue was down 4.4% compared to the same quarter last year. Analysts predict that International Game Technology will post 1.24 earnings per share for the current year.

International Game Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.88%. International Game Technology's dividend payout ratio (DPR) is 46.78%.

Analyst Upgrades and Downgrades

IGT has been the subject of several recent research reports. Truist Financial lowered their target price on shares of International Game Technology from $20.00 to $18.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus decreased their target price on shares of International Game Technology from $26.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, StockNews.com lowered shares of International Game Technology from a "buy" rating to a "hold" rating in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, International Game Technology presently has an average rating of "Moderate Buy" and an average price target 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.