International Game Technology PLC (NYSE:IGT) Short Interest Update

International Game Technology PLC (NYSE:IGTGet Free Report) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 2,560,000 shares, an increase of 5.3% from the May 15th total of 2,430,000 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 2.4% of the shares of the stock are sold short.

International Game Technology Trading Up 0.0 %

IGT traded up $0.01 on Wednesday, hitting $20.31. The company had a trading volume of 763,218 shares, compared to its average volume of 1,079,367. The firm has a market cap of $4.04 billion, a P/E ratio of 19.35 and a beta of 1.94. International Game Technology has a 1 year low of $18.90 and a 1 year high of $33.99. The company’s fifty day moving average price is $20.28 and its 200 day moving average price is $23.53. The company has a current ratio of 0.80, a quick ratio of 0.67 and a debt-to-equity ratio of 2.59.

International Game Technology (NYSE:IGTGet Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.17. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. International Game Technology had a net margin of 4.98% and a return on equity of 20.84%. International Game Technology’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. As a group, equities analysts expect that International Game Technology will post 1.53 earnings per share for the current year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.80 annualized dividend and a yield of 3.94%. International Game Technology’s dividend payout ratio (DPR) is currently 76.19%.

Institutional Trading of International Game Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC purchased a new stake in International Game Technology during the fourth quarter worth about $25,000. Highlander Capital Management LLC purchased a new stake in International Game Technology during the fourth quarter worth about $27,000. VisionPoint Advisory Group LLC purchased a new stake in International Game Technology during the fourth quarter worth about $38,000. General Partner Inc. purchased a new stake in International Game Technology during the first quarter worth about $45,000. Finally, Neo Ivy Capital Management purchased a new stake in International Game Technology during the fourth quarter worth about $93,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. B. Riley assumed coverage on shares of International Game Technology in a research note on Friday, April 5th. They set a “buy” rating and a $30.00 target price on the stock. Truist Financial reduced their price target on International Game Technology from $26.00 to $23.00 and set a “hold” rating on the stock in a report on Wednesday, May 15th. StockNews.com lowered International Game Technology from a “strong-buy” rating to a “buy” rating in a report on Monday, May 13th. Argus reduced their price target on International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, Stifel Nicolaus upgraded International Game Technology from a “hold” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $26.00 in a report on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, International Game Technology has an average rating of “Moderate Buy” and an average target price of $28.00.

Read Our Latest Report on International Game Technology

International Game Technology Company Profile

(Get Free Report)

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.

Further Reading

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