Readystate Asset Management LP Purchases Shares of 89,255 Brightstar Lottery $BRSL

Readystate Asset Management LP purchased a new stake in shares of Brightstar Lottery (NYSE:BRSL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 89,255 shares of the company’s stock, valued at approximately $957,000.

Several other large investors have also recently added to or reduced their stakes in BRSL. Nomura Asset Management Co. Ltd. acquired a new position in shares of Brightstar Lottery in the 4th quarter valued at $31,000. NewEdge Advisors LLC acquired a new stake in shares of Brightstar Lottery during the 4th quarter valued at about $32,000. Knott David M Jr bought a new stake in Brightstar Lottery in the first quarter valued at about $32,000. Persistent Asset Partners Ltd bought a new stake in Brightstar Lottery in the second quarter valued at about $31,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Brightstar Lottery in the fourth quarter worth about $52,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

Brightstar Lottery Trading Up 0.3%

Shares of BRSL opened at $11.33 on Tuesday. The stock’s fifty day simple moving average is $11.06 and its 200-day simple moving average is $11.85. The firm has a market capitalization of $2.12 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 4.61 and a beta of 1.03. Brightstar Lottery has a 12-month low of $9.90 and a 12-month high of $18.57. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 2.16.

Brightstar Lottery (NYSE:BRSL) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, topping the consensus estimate 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. As a group, research analysts predict that Brightstar Lottery will post 0.35 earnings per share for the current year.

Brightstar Lottery Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 8.1%. The ex-dividend date was Tuesday, August 18th. Brightstar Lottery’s dividend payout ratio is 70.77%.

Wall Street Analyst Weigh In

BRSL has been the topic of several analyst reports. Truist Financial lowered their price objective on Brightstar Lottery from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Jefferies Financial Group upgraded Brightstar Lottery from a “hold” rating to a “buy” rating and raised their target price for the stock from $12.00 to $16.00 in a research report on Thursday, August 13th. Zacks Research upgraded Brightstar Lottery from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brightstar Lottery in a research note on Friday, July 10th. Finally, Wall Street Zen downgraded shares of Brightstar Lottery from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.10.

Brightstar Lottery Company Profile

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.