International Game Technology PLC [NYSE: IGT] loss -4.24% or -0.57 points to close at $12.86 with a heavy trading volume of 2049239 shares. The company report on November 23, 2020 that IGT and Maverick Gaming to Deliver Retail and Mobile Sports Betting with Launch of Play Maverick Sports in Colorado.
International Game Technology PLC (“IGT”) (NYSE: IGT) announced that its leading PlaySports platform will power world-class retail sports betting at Maverick Gaming’s three Colorado-based casinos as well as interactive sports betting throughout Colorado via Play Maverick Sports. Through a multi-year agreement with Maverick Gaming, IGT will provide its proven PlaySports turnkey solution including user-friendly self-service PlaySports kiosks, to Grand Z Casino and Johnny Z’s Casino in Central City, Colo. and Z Casino in Black Hawk, Colo. The IGT PlaySports platform, complete with a fully integrated Player Account Management (PAM) solution, will also power Maverick Gaming’s “Play Maverick Sports” mobile sports wagering app.
“IGT’s comprehensive PlaySports technology will enable Play Maverick Sports to engage new players and enhance our portfolio with exceptional sports betting experiences at our casinos and throughout the state of Colorado,” said Justin Beltram, Maverick Gaming Chief Operating Officer. “The turnkey nature of IGT’s PlaySports solution and its proven ability to deliver positive player experiences across channels were key drivers of our decision to choose IGT as our sports betting growth partner. Maverick Gaming cannot wait to extend the excitement of sports betting to our players and sports fans throughout Colorado.”.
It opened the trading session at $13.25, the shares rose to $13.34 and dropped to $12.72, the range by which the price of stock traded the whole day. The daily chart for IGT points out that the company has recorded 52.55% gains over the past six months. However, it is still -258.22% lower than its most recent low trading price.
If we look at the average trading volume of 2.52M shares, IGT reached to a volume of 2049239 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about International Game Technology PLC [IGT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IGT shares is $13.61 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IGT stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for International Game Technology PLC shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 19, 2020. The new note on the price target was released on August 07, 2020, representing the official price target for International Game Technology PLC stock. Previously, the target price had yet another drop from $19 to $5, while Credit Suisse kept a Underperform rating on IGT stock.
The Average True Range (ATR) for International Game Technology PLC is set at 0.73, with the Price to Sales ratio for IGT stock in the period of the last 12 months amounting to 0.68. The Price to Book ratio for the last quarter was 1.47, with the Price to Cash per share for the same quarter was set at 6.68. Price to Free Cash Flow for IGT in the course of the last twelve months was 4.64 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for IGT stock
International Game Technology PLC [IGT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.55. With this latest performance, IGT shares gained by 48.16% in over the last four-week period, additionally plugging by 52.55% over the last 6 months – not to mention a drop of -13.05% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IGT stock in for the last two-week period is set at 66.87, with the RSI for the last a single of trading hit 69.79, and the three-weeks RSI is set at 62.82 for International Game Technology PLC [IGT]. The present Moving Average for the last 50 days of trading for this stock 10.80, while it was recorded at 13.01 for the last single week of trading, and 9.46 for the last 200 days.
International Game Technology PLC [IGT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and International Game Technology PLC [IGT] shares currently have an operating margin of +15.46 and a Gross Margin at +38.70. International Game Technology PLC’s Net Margin is presently recorded at -0.40.
Return on Total Capital for IGT is now 6.79, given the latest momentum, and Return on Invested Capital for the company is -0.20. Return on Equity for this stock declined to -1.10, with Return on Assets sitting at -0.14. When it comes to the capital structure of this company, International Game Technology PLC [IGT] has a Total Debt to Total Equity ratio set at 510.88. Additionally, IGT Total Debt to Total Capital is recorded at 83.63, with Total Debt to Total Assets ending up at 62.09. Long-Term Debt to Equity for the company is recorded at 479.25, with the Long-Term Debt to Total Capital now at 78.45.
Reflecting on the efficiency of the workforce at the company, International Game Technology PLC [IGT] managed to generate an average of -$1,596 per employee. Receivables Turnover for the company is 3.42 with a Total Asset Turnover recorded at a value of 0.35.International Game Technology PLC’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.
International Game Technology PLC [IGT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, International Game Technology PLC posted 0.31/share EPS, while the average EPS was predicted by analysts to be reported at 0.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 29.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IGT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for International Game Technology PLC go to 30.18%.
An analysis of insider ownership at International Game Technology PLC [IGT]
There are presently around $1,033 million, or 42.20% of IGT stock, in the hands of institutional investors. The top three institutional holders of IGT stocks are: BLACKROCK INC. with ownership of 13,285,882, which is approximately 81.125% of the company’s market cap and around 51.75% of the total institutional ownership; BOSTON PARTNERS, holding 7,579,012 shares of the stock with an approximate value of $97.47 million in IGT stocks shares; and INVESCO LTD., currently with $81.95 million in IGT stock with ownership of nearly -0.336% of the company’s market capitalization.
Positions in International Game Technology PLC stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 85 institutional holders increased their position in International Game Technology PLC [NYSE:IGT] by around 17,896,252 shares. Additionally, 107 investors decreased positions by around 19,425,849 shares, while 34 investors held positions by with 42,999,112 shares. The mentioned changes placed institutional holdings at 80,321,213 shares, according to the latest SEC report filing. IGT stock had 37 new institutional investments in for a total of 4,216,924 shares, while 38 institutional investors sold positions of 6,249,965 shares during the same period.