International Game Technology Sees Unusually High Options Volume (NYSE:IGT)

International Game Technology PLC (NYSE:IGT) saw some unusual options trading activity on Tuesday. Stock traders acquired 8,015 call options on the company. This is an increase of 217% compared to the typical daily volume of 2,531 call options.

International Game Technology Stock Up 1.6 %

IGT opened at $17.66 on Thursday. The company’s 50-day moving average price is $19.29 and its two-hundred day moving average price is $20.51. 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 twelve month low of $16.83 and a twelve month high of $27.69. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 29.43 and a beta of 1.91.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). The firm had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. As a group, equities analysts expect that International Game Technology will post 1 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a $0.20 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 4.53%. International Game Technology’s payout ratio is 133.33%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.67.

Institutional Trading of International Game Technology

A number of institutional investors have recently modified their holdings of the business. Sei Investments Co. lifted its holdings in International Game Technology by 0.3% during the 2nd quarter. Sei Investments Co. now owns 202,224 shares of the company’s stock worth $4,137,000 after purchasing an additional 515 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of International Game Technology by 26.1% in the third quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company’s stock valued at $60,000 after acquiring an additional 579 shares during the period. Qsemble Capital Management LP grew its stake in International Game Technology by 5.1% during the second quarter. Qsemble Capital Management LP now owns 13,012 shares of the company’s stock valued at $266,000 after acquiring an additional 631 shares in the last quarter. Point72 DIFC Ltd increased its holdings in International Game Technology by 7.9% during the 3rd quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock worth $274,000 after acquiring an additional 947 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in International Game Technology by 7.2% in the 3rd quarter. Victory Capital Management Inc. now owns 14,897 shares of the company’s stock worth $317,000 after purchasing an additional 996 shares in the last quarter. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

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.