The share price of International Game Technology PLC (NYSE:IGT) fell to $16.60 per share on Wednesday from $17.32. While International Game Technology PLC has underperformed by -4.16%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, IGT fell by -23.64%, with highs and lows ranging from $32.95 to $16.46, whereas the simple moving average fell by -27.63% in the last 200 days.
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On May 12, 2022, Jefferies Upgraded International Game Technology PLC (NYSE: IGT) to Buy. A report published by Stifel on December 17, 2021, Initiated its previous ‘Buy’ rating for IGT. Jefferies also Downgraded IGT shares as ‘Hold’, setting a target price of $33 on the company’s shares in a report dated November 17, 2021. Berenberg Initiated an Buy rating on October 19, 2021, and assigned a price target of $35. Credit Suisse initiated its ‘Outperform’ rating for IGT, as published in its report on May 13, 2021. Jefferies’s report from January 19, 2021 suggests a price prediction of $24 for IGT shares, giving the stock a ‘Buy’ rating. Argus also rated the stock as ‘Buy’.
Analysis of International Game Technology PLC (IGT)
A return on investment can be expected regardless of IGT’s performance over the next quarter with the dividend set at $0.80 per share. Further, the quarter-over-quarter decrease in sales is -1.90%, showing a negative trend in the upcoming months.
To gain a thorough understanding of International Game Technology PLC’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 12.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and IGT is recording an average volume of 1.58M. On a monthly basis, the volatility of the stock is set at 4.42%, whereas on a weekly basis, it is put at 4.84%, with a loss of -6.53% over the past seven days. Furthermore, long-term investors anticipate a median target price of $30.84, showing growth from the present price of $16.60, which can serve as yet another indication of whether IGT is worth investing in or should be passed over.
How Do You Analyze International Game Technology PLC Shares?
A leading company in the Gambling sector, International Game Technology PLC (IGT) is based in the United Kingdom. When comparing International Game Technology PLC shares with other companies under Consumer Cyclical, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 21.39, there is a growth in quarterly earnings of 95.90%.
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 49.97%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 49.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in IGT shares?
The recent increase in stakes in IGT appears to be a result of several institutional investors and hedge funds increasing their positions. Massachusetts Financial Services’s position in IGT has increased by 6.60% in the first quarter. The company now owns 7,923,906 shares of the stock, with a value of $142.15 million, following the purchase of 490,739 additional shares during the last quarter. Lazard Asset Management LLC made another increased to its shares in IGT during the first quarter, upping its stake by 25.03%. During the last quarter, the company picked up 1,553,857 additional shares for a total stake of worth $139.23 million, bringing number of shares owned by the company to 7,761,145.
During the first quarter, Boston Partners Global Investors, added a 19,853 position in IGT. BlackRock Fund Advisors sold an additional 83971.0 shares in the last quarter, decreasing its holdings by -1.48%, now holding 5.59 million shares worth $100.26 million. At the end of the first quarter, Newton Investment Management Nort increased its IGT holdings by 7.73% and now holds 4.61 million IGT shares valued at $82.62 million with the added 0.33 million shares during the period. IGT shares are owned by institutional investors to the tune of 49.60% at present.