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

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International Game Technology PLC (NYSE:IGT) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 7,425,200 shares, a decline of 7.2% from the June 30th total of 7,998,400 shares. Based on an average daily volume of 2,480,000 shares, the short-interest ratio is presently 3.0 days. Approximately 7.5% of the shares of the stock are sold short.

Several large investors have recently made changes to their positions in IGT. Cerebellum GP LLC grew its stake in shares of International Game Technology by 151.2% during the 1st quarter. Cerebellum GP LLC now owns 24,633 shares of the company’s stock worth $320,000 after acquiring an additional 14,827 shares in the last quarter. Stifel Financial Corp bought a new position in shares of International Game Technology during the 4th quarter worth approximately $295,000. Lazard Asset Management LLC boosted its holdings in shares of International Game Technology by 33.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,971,479 shares of the company’s stock valued at $51,588,000 after buying an additional 988,705 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of International Game Technology by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 275,492 shares of the company’s stock valued at $4,029,000 after buying an additional 31,499 shares during the last quarter. Finally, Knott David M acquired a new stake in shares of International Game Technology in the 1st quarter valued at approximately $1,494,000. Institutional investors and hedge funds own 41.76% of the company’s stock.

Shares of International Game Technology stock opened at $11.68 on Friday. The company’s fifty day moving average price is $13.30 and its two-hundred day moving average price is $14.07. The company has a debt-to-equity ratio of 2.87, a current ratio of 0.83 and a quick ratio of 0.74. International Game Technology has a 52-week low of $11.32 and a 52-week high of $21.94. The firm has a market capitalization of $2.40 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.94 and a beta of 1.28.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.13. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.16 billion. International Game Technology had a negative net margin of 0.72% and a positive return on equity of 8.51%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. Analysts predict that International Game Technology will post 1.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.85%. International Game Technology’s dividend payout ratio is 81.63%.

Separately, ValuEngine raised shares of International Game Technology from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. International Game Technology has an average rating of “Buy” and an average price target of $23.58.

About International Game Technology

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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