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

International Game Technology PLC (NYSE:IGT) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,030,000 shares, a growth of 12.2% from the October 31st total of 1,810,000 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average daily volume of 870,000 shares, the short-interest ratio is currently 2.3 days.

International Game Technology Stock Performance

IGT traded down $0.17 on Tuesday, hitting $19.90. The company had a trading volume of 718,304 shares, compared to its average volume of 1,111,264. International Game Technology has a 1-year low of $18.56 and a 1-year high of $28.82. 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 company’s fifty day moving average price is $20.38 and its 200 day moving average price is $20.85. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 33.17 and a beta of 1.91.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). The firm had revenue of $587.00 million during the quarter, compared to analyst estimates of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. Equities analysts predict that International Game Technology will post 1 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.80 annualized dividend and a yield of 4.02%. International Game Technology’s dividend payout ratio is 133.34%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.67.

Institutional Trading of International Game Technology

Institutional investors have recently modified their holdings of the company. Segall Bryant & Hamill LLC acquired a new position in shares of International Game Technology in the 3rd quarter worth approximately $1,209,000. Massachusetts Financial Services Co. MA grew its position in International Game Technology by 0.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock valued at $165,946,000 after acquiring an additional 47,442 shares during the period. Qsemble Capital Management LP raised its stake in International Game Technology by 230.0% during the third quarter. Qsemble Capital Management LP now owns 42,941 shares of the company’s stock worth $915,000 after acquiring an additional 29,929 shares in the last quarter. M&G Plc bought a new position in shares of International Game Technology during the second quarter valued at $8,850,000. Finally, BBR Partners LLC acquired a new stake in shares of International Game Technology in the 3rd quarter valued at $639,000. 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.