Arrowstreet Capital Limited Partnership Has $4.96 Million Stake in Brightstar Lottery $BRSL

Key Points

• Arrowstreet Capital cut its Brightstar Lottery stake by 37% in the first quarter, selling 229,019 shares and retaining 389,260 shares valued at approximately $4.96 million. Institutional investors collectively own 44.33% of the company.
• Analyst sentiment is mixed, with three Buy, five Hold and one Sell rating; the stock has an average rating of Hold and a consensus price target of $14.77 versus its $10.04 opening price.
• Brightstar Lottery reported quarterly EPS of $0.14, below the $0.18 consensus estimate, while revenue rose 0.7% year over year. The company paid a $0.23 quarterly dividend, equivalent to a 9.2% annualized yield, though its payout ratio was high at 110.84%.

Arrowstreet Capital Limited Partnership reduced its stake in shares of Brightstar Lottery (NYSE:BRSL - Free Report) by 37.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,260 shares of the company's stock after selling 229,019 shares during the period. Arrowstreet Capital Limited Partnership owned 0.21% of Brightstar Lottery worth $4,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BRSL. Inceptionr LLC acquired a new stake in shares of Brightstar Lottery in the first quarter worth $412,000. Knott David M Jr bought a new stake in shares of Brightstar Lottery during the 1st quarter worth $32,000. Orvieto Partners L.P. grew its stake in Brightstar Lottery by 2.0% in the 1st quarter. Orvieto Partners L.P. now owns 753,596 shares of the company's stock valued at $9,601,000 after buying an additional 15,000 shares during the last quarter. Sei Investments Co. grew its stake in Brightstar Lottery by 101.8% in the 1st quarter. Sei Investments Co. now owns 322,220 shares of the company's stock valued at $4,105,000 after buying an additional 162,541 shares during the last quarter. Finally, Mizuho Markets Cayman LP raised its holdings in Brightstar Lottery by 47.1% in the 1st quarter. Mizuho Markets Cayman LP now owns 247,561 shares of the company's stock worth $3,154,000 after acquiring an additional 79,261 shares during the period. Institutional investors and hedge funds own 44.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BRSL shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Brightstar Lottery in a research report on Wednesday, July 1st. They set a "buy" rating and a $15.00 target price for the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Brightstar Lottery in a research report on Friday, July 10th. Argus lowered Brightstar Lottery from a "buy" rating to a "hold" rating in a research note on Monday, June 29th. Zacks Research raised Brightstar Lottery from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Stifel Nicolaus restated a "buy" rating and set a $19.00 target price (down from $20.00) on shares of Brightstar Lottery in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.77.

Brightstar Lottery Stock Up 0.0%

Brightstar Lottery stock opened at $10.04 on Monday. The firm has a 50 day moving average price of $11.02. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.84 and a current ratio of 0.88. Brightstar Lottery has a 12 month low of $9.90 and a 12 month high of $18.57. The firm has a market cap of $1.88 billion, a PE ratio of 12.10 and a beta of 1.03.

Brightstar Lottery (NYSE:BRSL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). Brightstar Lottery had a return on equity of 10.58% and a net margin of 6.24%.Brightstar Lottery's quarterly revenue was up .7% on a year-over-year basis. On average, analysts expect that Brightstar Lottery will post 0.4 earnings per share for the current fiscal year.

Brightstar Lottery Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 9.2%. The ex-dividend date of this dividend was Thursday, May 28th. Brightstar Lottery's payout ratio is 110.84%.

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.

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