Stock traders are buying a high volume of international gaming technology put options (NYSE:IGT)

International Game Technology PLC (NYSE:IGT – Get Rating) saw unusually heavy options trading activity on Tuesday. Stock traders bought 30,250 put options on the company. This represents a 424% increase from the average volume of 5,769 put options.

International gaming technology stock up 5.2%

Shares of NYSE IGT traded at $0.79 at midday on Tuesday, hitting $16.12. The company had a trading volume of 15,096 shares, compared to an average volume of 1,198,128 shares. The company has a current ratio of 1.56, a quick ratio of 1.44 and a debt ratio of 3.53. The company has a 50-day simple moving average of $19.05 and a two-hundred-day simple moving average of $20.63. The stock has a market capitalization of $3.28 billion, a P/E ratio of 19.91 and a beta of 1.82. International Game Technology has a 52 week low of $15.01 and a 52 week high of $32.95.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 30. Shareholders of record on Tuesday August 16 received a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a yield of 4.96%. The ex-dividend date was Monday, August 15. International Game Technology’s payout rate is currently 103.90%.

A Wall Street analyst gives his opinion

A number of research companies have published reports on IGT. upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a Thursday, September 1, report. Deutsche Bank Aktiengesellschaft cut its price target on shares of International Game Technology from $35.00 to $30.00 in a Wednesday, August 3, report. Stifel Nicolaus lowered his price target on shares of International Game Technology from $36.00 to $26.00 in a Monday, August 1 research report. Finally, Truist Financial lowered its price target on shares of International Game Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a Wednesday, July 20 research report. Seven equity research analysts rated the stock with a buy rating. Based on data from, International Game Technology currently has an average rating of “Buy” and a consensus price target of $35.00.

Institutional entries and exits

Several hedge funds and other institutional investors have recently bought and sold shares of IGT. Amundi increased its stake in International Game Technology shares by 8.8% in the second quarter. Amundi now owns 918,023 shares of the company worth $15,487,000 after acquiring an additional 73,932 shares during the period. Verition Fund Management LLC acquired a new stake in shares of International Game Technology in Q2 for a value of $248,000. Garde Capital Inc. acquired a new stake in the shares of International Game Technology in the 2nd quarter at a value of $256,000. ExodusPoint Capital Management LP acquired a new stake in shares of International Game Technology in Q2 for a value of $1,377,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of International Game Technology by 87.3% in the second quarter. Goldman Sachs Group Inc. now owns 2,343,145 shares of the company valued at $43,488,000 after purchasing an additional 1,092,029 shares during the period. 44.33% of the shares are held by hedge funds and other institutional investors.

International Gaming Technology Company Profile

(Get an assessment)

International Game Technology PLC operates and provides game technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America and the Caribbean. It operates in three segments: Global Lottery, Global Gaming and Digital & Betting. The company designs, sells, operates and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and the 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.

Featured Articles

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider International Game Technology, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and International Game Technology was not on the list.

Although International Game Technology currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Comments are closed.