Brightstar Lottery (NYSE:BRSL) Hits New 12-Month Low – Here’s Why

Brightstar Lottery (NYSE:BRSL)’s stock price hit a new 52-week low during trading on Thursday. The company traded as low as $9.81 and last traded at $9.8450, with a volume of 602100 shares changing hands. The stock had previously closed at $10.26.

Analyst Ratings Changes

BRSL has been the topic of several analyst reports. Stifel Nicolaus set a $19.00 price objective on Brightstar Lottery in a research note on Friday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brightstar Lottery in a research note on Friday, July 10th. Truist Financial dropped their target price on Brightstar Lottery from $14.00 to $13.00 and set a “hold” rating for the company in a report on Monday, July 20th. Zacks Research raised Brightstar Lottery from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Brightstar Lottery in a report on Wednesday, July 1st. They set a “buy” rating and a $15.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Brightstar Lottery presently has an average rating of “Hold” and a consensus target price of $15.10.

Brightstar Lottery Price Performance

The company has a market capitalization of $1.86 billion, a P/E ratio of 7.66, a P/E/G ratio of 3.98 and a beta of 1.03. The firm’s fifty day moving average is $10.92 and its 200 day moving average is $11.56. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.00 and a current ratio of 1.10.

Brightstar Lottery (NYSE:BRSL) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $584.00 million for the quarter. Brightstar Lottery had a net margin of 10.05% and a return on equity of 10.47%. As a group, analysts predict that Brightstar Lottery will post 0.35 earnings per share for the current fiscal year.

Brightstar Lottery Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 9.2%. The ex-dividend date was Tuesday, August 18th. Brightstar Lottery’s dividend payout ratio is presently 70.77%.

Hedge Funds Weigh In On Brightstar Lottery

Large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its stake in Brightstar Lottery by 34.3% in the second quarter. Envestnet Asset Management Inc. now owns 16,494 shares of the company’s stock worth $177,000 after purchasing an additional 4,216 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Brightstar Lottery by 23.8% during the second quarter. Integrated Wealth Concepts LLC now owns 25,372 shares of the company’s stock valued at $272,000 after purchasing an additional 4,880 shares during the period. Readystate Asset Management LP bought a new position in shares of Brightstar Lottery in the second quarter worth about $957,000. denkapparat Operations GmbH grew its holdings in shares of Brightstar Lottery by 286.1% in the second quarter. denkapparat Operations GmbH now owns 40,400 shares of the company’s stock worth $433,000 after purchasing an additional 29,936 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC purchased a new position in Brightstar Lottery in the 2nd quarter worth about $334,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

About Brightstar Lottery

Brightstar Lottery plc (NYSE: BRSL) is a global lottery technology and services company. The company provides solutions for government-sponsored and regulated lotteries, including lottery systems, retail terminals, draw-based games, instant-ticket products and digital lottery platforms.

Its services support the operation and management of lottery programs across retail and online channels. Brightstar Lottery also provides related technology, transaction processing, content, player engagement and lottery-management services designed to help customers operate secure and efficient gaming programs.

The company was formed from the lottery business formerly operated by International Game Technology (IGT) and serves lottery operators in multiple international markets, including North America, Europe and other regions.