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

International Game Technology PLC (NYSE:IGT) saw some unusual options trading on Friday. Stock investors purchased 14,737 put options on the stock. This is an increase of 584% compared to the typical daily volume of 2,154 put options.

International Game Technology Price Performance

Shares of IGT stock opened at $19.51 on Friday. International Game Technology has a 12 month low of $18.90 and a 12 month high of $28.82. The company has a market capitalization of $3.88 billion, a P/E ratio of 32.52 and a beta of 1.96. The stock has a 50 day moving average of $20.94 and a two-hundred day moving average of $20.92. The company has a current ratio of 2.36, a quick ratio of 0.71 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last issued its earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $587.00 million during the quarter, compared to the consensus estimate of $591.50 million. During the same period last year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that International Game Technology will post 1.16 EPS for the current year.

International Game Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 4.10%. International Game Technology’s dividend payout ratio (DPR) is currently 133.34%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IGT shares. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Stifel Nicolaus upped their price target on International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, B. Riley reissued a “buy” rating and issued a $30.00 price objective on shares of International Game Technology in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, International Game Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in International Game Technology by 49.1% during the third quarter. Barclays PLC now owns 291,626 shares of the company’s stock valued at $6,212,000 after purchasing an additional 96,019 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of International Game Technology by 180.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 29,932 shares of the company’s stock worth $638,000 after buying an additional 19,247 shares in the last quarter. Zacks Investment Management bought a new position in shares of International Game Technology during the 3rd quarter worth approximately $645,000. State Street Corp boosted its stake in International Game Technology by 1.0% in the 3rd quarter. State Street Corp now owns 2,103,275 shares of the company’s stock valued at $44,800,000 after buying an additional 21,295 shares in the last quarter. Finally, Stifel Financial Corp grew its position in International Game Technology by 22.2% in the third quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock valued at $1,197,000 after acquiring an additional 10,193 shares during the period. Institutional investors and hedge funds own 44.33% of the company’s stock.

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.