International Game Technology (NYSE:IGT) Stock Price Down 5%

Posted by MarketBeat News on Oct 28th, 2023

International Game Technology PLC (NYSE:IGT – Get Free Report)’s share price traded down 5% on Thursday . The stock traded as low as $26.47 and last traded at $26.76. 828,914 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 1,216,882 shares. The stock had previously closed at $28.18.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Susquehanna reduced their target price on International Game Technology from $54.00 to $50.00 and set a “positive” rating on the stock in a research note on Thursday, October 19th. StockNews.com assumed coverage on International Game Technology in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Truist Financial reissued a “buy” rating and issued a $37.00 target price on shares of International Game Technology in a research note on Friday, September 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $44.50.

Read Our Latest Stock Report on IGT

International Game Technology Trading Up 4.7 %

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The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.95. The stock’s fifty day moving average price is $30.75 and its two-hundred day moving average price is $29.97. The company has a market capitalization of $5.37 billion, a PE ratio of 20.43 and a beta of 1.95.

International Game Technology (NYSE:IGT – Get Free Report) last posted its earnings results on Tuesday, August 1st. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. International Game Technology had a net margin of 6.30% and a return on equity of 27.29%. Sell-side analysts anticipate that International Game Technology PLC will post 1.74 earnings per share for the current year.

Institutional Trading of International Game Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its holdings in International Game Technology by 166.5% in the third quarter. CWM LLC now owns 898 shares of the company’s stock worth $27,000 after buying an additional 561 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of International Game Technology by 84.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock valued at $29,000 after purchasing an additional 534 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of International Game Technology during the second quarter valued at approximately $37,000. Penserra Capital Management LLC increased its stake in shares of International Game Technology by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,554 shares of the company’s stock valued at $41,000 after purchasing an additional 518 shares in the last quarter. Finally, VisionPoint Advisory Group LLC bought a new position in shares of International Game Technology during the second quarter valued at approximately $45,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

About International Game Technology

(Get Free Report)

International Game Technology PLC operates and provides gaming 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 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.

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