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MSFT   323.46 (+0.14%)
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AMZN   3,456.69 (+1.97%)
TSLA   997.94 (-1.68%)
NVDA   292.94 (-4.56%)
BABA   121.53 (+8.55%)
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CGC   10.04 (+0.50%)
AMD   136.39 (-5.29%)
GE   96.53 (+4.05%)
MU   82.41 (+0.97%)
T   23.53 (+0.30%)
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DIS   150.33 (+2.81%)
PFE   52.27 (-3.69%)
AMC   28.56 (-1.55%)
ACB   5.92 (+1.72%)
BA   205.26 (+3.41%)
S&P 500   4,600.95 (+1.38%)
DOW   35,283.63 (+2.03%)
QQQ   385.17 (+0.53%)
AAPL   166.10 (+2.63%)
MSFT   323.46 (+0.14%)
FB   315.85 (+2.94%)
GOOGL   2,855.24 (+0.54%)
AMZN   3,456.69 (+1.97%)
TSLA   997.94 (-1.68%)
NVDA   292.94 (-4.56%)
BABA   121.53 (+8.55%)
NIO   32.05 (-0.31%)
CGC   10.04 (+0.50%)
AMD   136.39 (-5.29%)
GE   96.53 (+4.05%)
MU   82.41 (+0.97%)
T   23.53 (+0.30%)
F   19.28 (+0.73%)
DIS   150.33 (+2.81%)
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AMC   28.56 (-1.55%)
ACB   5.92 (+1.72%)
BA   205.26 (+3.41%)
S&P 500   4,600.95 (+1.38%)
DOW   35,283.63 (+2.03%)
QQQ   385.17 (+0.53%)
AAPL   166.10 (+2.63%)
MSFT   323.46 (+0.14%)
FB   315.85 (+2.94%)
GOOGL   2,855.24 (+0.54%)
AMZN   3,456.69 (+1.97%)
TSLA   997.94 (-1.68%)
NVDA   292.94 (-4.56%)
BABA   121.53 (+8.55%)
NIO   32.05 (-0.31%)
CGC   10.04 (+0.50%)
AMD   136.39 (-5.29%)
GE   96.53 (+4.05%)
MU   82.41 (+0.97%)
T   23.53 (+0.30%)
F   19.28 (+0.73%)
DIS   150.33 (+2.81%)
PFE   52.27 (-3.69%)
AMC   28.56 (-1.55%)
ACB   5.92 (+1.72%)
BA   205.26 (+3.41%)

International Game Technology PLC (NYSE:IGT) Sees Large Growth in Short Interest

Saturday, November 20, 2021 | MarketBeat

International Game Technology PLC (NYSE:IGT) was the target of a significant growth in short interest in October. As of October 29th, there was short interest totalling 4,800,000 shares, a growth of 25.7% from the October 14th total of 3,820,000 shares. Based on an average trading volume of 2,150,000 shares, the short-interest ratio is presently 2.2 days. Currently, 4.8% of the shares of the company are short sold.

Several equities analysts recently commented on the stock. Credit Suisse Group upped their price target on shares of International Game Technology from $36.00 to $57.00 and gave the company an "outperform" rating in a research note on Wednesday, November 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of International Game Technology from $32.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, November 10th. Jefferies Financial Group cut shares of International Game Technology from a "buy" rating to a "hold" rating and cut their price objective for the stock from $38.00 to $33.00 in a research report on Wednesday. Finally, Berenberg Bank assumed coverage on shares of International Game Technology in a research report on Tuesday, October 19th. They set a "buy" rating and a $35.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $35.50.

Shares of IGT stock traded down $1.34 on Friday, reaching $27.57. The company had a trading volume of 3,525,644 shares, compared to its average volume of 2,237,094. The stock has a market capitalization of $5.65 billion, a PE ratio of 26.01 and a beta of 2.10. The company has a quick ratio of 1.21, a current ratio of 1.31 and a debt-to-equity ratio of 3.24. International Game Technology has a one year low of $11.87 and a one year high of $32.95. The business's 50-day moving average is $27.79 and its 200 day moving average is $23.82.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, November 9th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.10. The firm had revenue of $984.00 million during the quarter, compared to analysts' expectations of $981.00 million. International Game Technology had a net margin of 5.63% and a negative return on equity of 2.85%. The business's revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, sell-side analysts forecast that International Game Technology will post 0.55 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 7th. Stockholders of record on Tuesday, November 23rd will be issued a $0.20 dividend. The ex-dividend date is Monday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.90%.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of International Game Technology by 16.6% in the second quarter. BlackRock Inc. now owns 10,954,614 shares of the company's stock worth $262,471,000 after acquiring an additional 1,562,197 shares during the last quarter. Boston Partners increased its stake in shares of International Game Technology by 5.4% in the third quarter. Boston Partners now owns 6,962,134 shares of the company's stock valued at $179,958,000 after buying an additional 356,457 shares during the period. Lazard Asset Management LLC increased its stake in shares of International Game Technology by 9.6% in the second quarter. Lazard Asset Management LLC now owns 4,790,917 shares of the company's stock valued at $114,790,000 after buying an additional 417,737 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of International Game Technology by 55.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,244,249 shares of the company's stock valued at $111,709,000 after buying an additional 1,506,542 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of International Game Technology by 12.1% in the second quarter. Neuberger Berman Group LLC now owns 3,278,448 shares of the company's stock valued at $77,847,000 after buying an additional 354,328 shares during the period. 42.59% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Company Profile

International Game Technology Plc engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the Global Lottery and Global Gaming segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support.

Further Reading: What are the most popular ETFs

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