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

International Game Technology PLC (NYSE:IGT) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,470,000 shares, an increase of 31.5% from the March 15th total of 3,400,000 shares. Currently, 4.0% of the shares of the company are sold short. Based on an average trading volume of 1,490,000 shares, the short-interest ratio is presently 3.0 days.

Analysts Set New Price Targets

IGT has been the topic of a number of analyst reports. Truist Financial dropped their price objective on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IGT. Stifel Financial Corp boosted its stake in International Game Technology by 22.2% during the third quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock worth $1,197,000 after buying an additional 10,193 shares during the period. State Street Corp boosted its position in shares of International Game Technology by 1.0% during the 3rd quarter. State Street Corp now owns 2,103,275 shares of the company’s stock worth $44,800,000 after purchasing an additional 21,295 shares during the period. Barclays PLC increased its holdings in International Game Technology by 49.1% in the 3rd 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 during the last quarter. Harbor Capital Advisors Inc. lifted its stake in International Game Technology by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company’s stock worth $990,000 after purchasing an additional 1,442 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in International Game Technology during the fourth quarter worth $45,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Trading Up 2.3 %

Shares of International Game Technology stock opened at $16.08 on Monday. International Game Technology has a 1-year low of $13.81 and a 1-year high of $24.13. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The stock has a market cap of $3.25 billion, a P/E ratio of 26.79 and a beta of 1.66. The stock’s 50 day simple moving average is $16.76 and its 200-day simple moving average is $18.09.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.10). The company had revenue of $651.00 million for the quarter, compared to analysts’ expectations of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. Analysts predict that International Game Technology will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.98%. International Game Technology’s dividend payout ratio (DPR) is 46.78%.

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.