Traders Buy Large Volume of Call Options on International Game Technology (NYSE:IGT)

International Game Technology PLC (NYSE:IGT - Get Free Report) was the target of unusually large options trading activity on Friday. Stock investors bought 5,466 call options on the company. This is an increase of 159% compared to the typical volume of 2,109 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IGT. Victory Capital Management Inc. increased its stake in International Game Technology by 4.2% during the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock valued at $274,000 after purchasing an additional 622 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of International Game Technology by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock worth $210,000 after purchasing an additional 655 shares during the period. Linden Thomas Advisory Services LLC boosted its position in International Game Technology by 4.0% in the first quarter. Linden Thomas Advisory Services LLC now owns 22,895 shares of the company's stock valued at $372,000 after buying an additional 891 shares during the last quarter. Van ECK Associates Corp increased its holdings in International Game Technology by 5.1% in the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock worth $419,000 after buying an additional 1,145 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in International Game Technology by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company's stock valued at $990,000 after acquiring an additional 1,442 shares during the period. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Trading Down 0.4 %

IGT traded down $0.07 on Wednesday, reaching $16.48. 522,002 shares of the company traded hands, compared to its average volume of 1,172,097. The firm has a fifty day simple moving average of $16.60 and a two-hundred day simple moving average of $17.91. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. International Game Technology has a one year low of $13.81 and a one year high of $24.13. The company has a market cap of $3.33 billion, a P/E ratio of 27.47 and a beta of 1.66.

International Game Technology (NYSE:IGT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). The business had revenue of $651.00 million for the quarter, compared to analysts' expectations of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 earnings per share. As a group, equities research analysts expect that International Game Technology will post 1.24 earnings per share for the current year.

International Game Technology Dividend Announcement

The firm 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 of this dividend was Tuesday, March 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.85%. International Game Technology's dividend payout ratio is presently 46.78%.

Wall Street Analysts Forecast Growth

IGT has been the topic of several analyst reports. Truist Financial reduced their price objective on International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus cut their price target on shares of International Game Technology from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, StockNews.com downgraded shares of International Game Technology from a "buy" rating to a "hold" rating in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, International Game Technology currently has an average rating of "Moderate Buy" and an average price target of $25.75.

International Game Technology Company Profile

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.