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

International Game Technology PLC (NYSE:IGT) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 5,520,000 shares, a growth of 21.1% from the April 30th total of 4,560,000 shares. Based on an average daily volume of 1,680,000 shares, the short-interest ratio is currently 3.3 days. Currently, 5.0% of the company’s shares are short sold.

Institutional Investors Weigh In On International Game Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC grew its stake in shares of International Game Technology by 61.1% during the first quarter. CWM LLC now owns 2,460 shares of the company’s stock worth $40,000 after purchasing an additional 933 shares in the last quarter. Knott David M Jr acquired a new position in shares of International Game Technology during the 1st quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of International Game Technology in the 4th quarter valued at about $45,000. Sterling Capital Management LLC increased its holdings in shares of International Game Technology by 782.5% in the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock valued at $55,000 after acquiring an additional 2,770 shares during the last quarter. Finally, Inlight Wealth Management LLC acquired a new stake in shares of International Game Technology during the 1st quarter worth about $85,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on IGT shares. Wall Street Zen cut International Game Technology from a “buy” rating to a “hold” rating in a research note on Monday, April 14th. Stifel Nicolaus reissued a “buy” rating and set a $20.00 target price (down previously from $22.00) on shares of International Game Technology in a research note on Wednesday, May 21st. Susquehanna reaffirmed a “positive” rating and issued a $25.00 target price (down from $30.00) on shares of International Game Technology in a research report on Wednesday, May 14th. Truist Financial reduced their price target on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Finally, Argus lowered shares of International Game Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, International Game Technology has an average rating of “Moderate Buy” and a consensus target price of $23.25.

International Game Technology Trading Up 0.1%

NYSE:IGT opened at $14.57 on Thursday. The stock has a fifty day moving average price of $15.90 and a 200 day moving average price of $17.09. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. International Game Technology has a 12-month low of $13.81 and a 12-month high of $24.13. The firm has a market cap of $2.94 billion, a PE ratio of 24.28 and a beta of 1.61.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.05). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $630.30 million. During the same quarter in the previous year, the business posted $0.46 EPS. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. Sell-side analysts anticipate that International Game Technology will post 1.24 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.49%. The ex-dividend date is Thursday, May 29th. International Game Technology’s dividend payout ratio (DPR) is presently 55.56%.

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.