International Game Technology Target of Unusually High Options Trading (IGT)

International Game Technology PLC (NYSE:IGT) saw some unusual options trading activity on Monday. Stock traders bought 2,838 put options on the company. This represents an increase of 824% compared to the typical volume of 307 put options.

IGT stock opened at $13.83 on Tuesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.00. International Game Technology has a 12 month low of $12.65 and a 12 month high of $30.65. The company has a market capitalization of $2.88 billion, a PE ratio of 14.11, a PEG ratio of 1.16 and a beta of 1.36.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Monday, May 20th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). International Game Technology had a negative net margin of 0.44% and a positive return on equity of 7.64%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business posted $0.15 earnings per share. International Game Technology’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts predict that International Game Technology will post 1.21 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.78%. International Game Technology’s dividend payout ratio (DPR) is currently 81.63%.

A number of research firms have recently commented on IGT. Credit Suisse Group restated a “neutral” rating on shares of International Game Technology in a research report on Wednesday, March 20th. ValuEngine lowered shares of International Game Technology from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.64.

Several hedge funds have recently added to or reduced their stakes in IGT. FMR LLC increased its stake in shares of International Game Technology by 222.8% in the first quarter. FMR LLC now owns 2,057,614 shares of the company’s stock worth $26,729,000 after buying an additional 1,420,212 shares during the period. Abbot Financial Management Inc. increased its stake in shares of International Game Technology by 65.6% in the first quarter. Abbot Financial Management Inc. now owns 35,200 shares of the company’s stock worth $457,000 after buying an additional 13,950 shares during the period. Morgan Stanley increased its stake in shares of International Game Technology by 359.2% in the first quarter. Morgan Stanley now owns 1,521,835 shares of the company’s stock worth $19,769,000 after buying an additional 1,190,444 shares during the period. Macquarie Group Ltd. increased its stake in shares of International Game Technology by 18.0% in the first quarter. Macquarie Group Ltd. now owns 157,798 shares of the company’s stock worth $2,050,000 after buying an additional 24,092 shares during the period. Finally, Stormborn Capital Management LLC increased its stake in shares of International Game Technology by 11.3% in the first quarter. Stormborn Capital Management LLC now owns 351,100 shares of the company’s stock worth $4,561,000 after buying an additional 35,600 shares during the period. Institutional investors own 49.21% of the company’s stock.

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International Game Technology Company Profile

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.

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