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

International Game Technology PLC (NYSE:IGT) was the recipient of some unusual options trading on Friday. Investors bought 20,956 call options on the company. This represents an increase of approximately 1,078% compared to the typical daily volume of 1,779 call options.

Analysts Set New Price Targets

IGT has been the subject of a number of recent research reports. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Stifel Nicolaus lifted their target price on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, B. Riley reissued a “buy” rating and set a $30.00 price target on shares of International Game Technology in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, International Game Technology currently has an average rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Stock Down 0.2 %

Shares of NYSE IGT opened at $20.60 on Friday. The stock has a market capitalization of $4.10 billion, a PE ratio of 19.62 and a beta of 1.95. The company has a quick ratio of 0.71, a current ratio of 0.84 and a debt-to-equity ratio of 2.57. The firm has a fifty day moving average of $21.42 and a 200-day moving average of $20.90. International Game Technology has a 52-week low of $18.90 and a 52-week high of $30.55.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, analysts anticipate that International Game Technology will post 1.48 EPS for the current year.

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.88%. International Game Technology’s dividend payout ratio (DPR) is 76.19%.

Institutional Investors Weigh In On International Game Technology

Several large investors have recently made changes to their positions in the business. Oliver Lagore Vanvalin Investment Group acquired a new stake in International Game Technology in the 2nd quarter valued at $31,000. Blue Trust Inc. acquired a new position in International Game Technology during the 2nd quarter worth approximately $44,000. Hexagon Capital Partners LLC boosted its holdings in International Game Technology by 1,633.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company’s stock worth $45,000 after acquiring an additional 2,091 shares during the period. CWM LLC grew its position in International Game Technology by 156.7% in the second quarter. CWM LLC now owns 2,321 shares of the company’s stock valued at $47,000 after acquiring an additional 1,417 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its stake in shares of International Game Technology by 100.9% during the second quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock valued at $47,000 after purchasing an additional 1,160 shares during the period. Institutional investors and hedge funds 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.