Brightstar Lottery (NYSE:BRSL) Sets New 1-Year Low – Here’s What Happened

Brightstar Lottery (NYSE:BRSL)’s stock price reached a new 52-week low on Wednesday. The stock traded as low as $9.59 and last traded at $9.66, with a volume of 382,847 shares changing hands. The stock had previously closed at $9.96.

Analyst Ratings Changes

Several research firms have issued reports on BRSL. Jefferies Financial Group raised shares of Brightstar Lottery from a “hold” rating to a “buy” rating and upped their price target for the stock from $12.00 to $16.00 in a research report on Thursday, August 13th. Argus lowered shares of Brightstar Lottery from a “buy” rating to a “hold” rating in a research note on Monday, June 29th. Zacks Research upgraded shares of Brightstar Lottery from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Brightstar Lottery in a report on Wednesday, July 1st. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Truist Financial cut their target price on shares of Brightstar Lottery from $14.00 to $13.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Brightstar Lottery presently has a consensus rating of “Hold” and an average price target of $15.10.

Brightstar Lottery Stock Performance

The stock’s 50-day simple moving average is $10.80 and its 200-day simple moving average is $11.31. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 7.40, a price-to-earnings-growth ratio of 4.05 and a beta of 1.18. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 2.16.

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

Brightstar Lottery Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.92 dividend on an annualized basis and a yield of 9.6%. Brightstar Lottery’s dividend payout ratio is currently 70.77%.

Hedge Funds Weigh In On Brightstar Lottery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Persistent Asset Partners Ltd bought a new stake in shares of Brightstar Lottery during the 2nd quarter valued at $31,000. Knott David M Jr acquired a new stake in shares of Brightstar Lottery during the 1st quarter worth $32,000. GAMMA Investing LLC increased its position in shares of Brightstar Lottery by 1,233.3% in the third quarter. GAMMA Investing LLC now owns 3,200 shares of the company’s stock worth $32,000 after purchasing an additional 2,960 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Brightstar Lottery in the fourth quarter worth $52,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Brightstar Lottery in the second quarter valued at about $63,000. 44.33% of the stock is owned by institutional investors and hedge funds.

About Brightstar Lottery

Brightstar Lottery Corporation (NYSE: BRSL) is a global lottery technology and services company. The company provides governments and lottery operators with products and solutions for draw-based games, instant-ticket lotteries, and digital or iLottery programs.

Its offerings include lottery management systems, point-of-sale terminals, transaction processing, gaming content, digital platforms, player engagement tools, analytics, and related operational and technology services. Brightstar also supports the design, production, and distribution of lottery products, helping customers manage retail and online lottery channels.

Brightstar Lottery was established as the standalone company formed from International Game Technology’s former Global Lottery business.