BlackRock Inc. Has $72.75 Million Stake in Brightstar Lottery $BRSL

Key Points

• BlackRock increased its Brightstar Lottery stake by 16.5% in the second quarter, bringing its holdings to 6.79 million shares worth approximately $72.75 million, or 3.63% of the company. Institutional investors and hedge funds collectively own 44.33% of the stock.
• Brightstar Lottery reported quarterly EPS of $0.11, beating the consensus estimate of a $0.01 loss, on revenue of $584 million. Analysts expect full-year EPS of $0.35.
• The company declared a quarterly dividend of $0.23 per share, equal to an annualized $0.92 and a 7.9% yield. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $15.10 versus a recent price of $11.60.

BlackRock Inc. raised its holdings in Brightstar Lottery (NYSE:BRSL - Free Report) by 16.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,785,934 shares of the company's stock after buying an additional 961,306 shares during the quarter. BlackRock Inc. owned 3.63% of Brightstar Lottery worth $72,745,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Nomura Asset Management Co. Ltd. bought a new position in Brightstar Lottery during the fourth quarter valued at about $31,000. Persistent Asset Partners Ltd acquired a new stake in shares of Brightstar Lottery during the 2nd quarter worth approximately $31,000. Knott David M Jr bought a new stake in shares of Brightstar Lottery during the first quarter valued at approximately $32,000. NewEdge Advisors LLC acquired a new position in shares of Brightstar Lottery in the fourth quarter valued at $32,000. Finally, Rockefeller Capital Management L.P. bought a new position in Brightstar Lottery in the fourth quarter worth $52,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.

Brightstar Lottery Trading Up 0.3%

BRSL opened at $11.60 on Monday. The firm's fifty day moving average is $11.01 and its two-hundred day moving average is $11.95. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.00 and a current ratio of 1.10. The firm has a market cap of $2.17 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 4.72 and a beta of 1.03. Brightstar Lottery has a twelve month low of $9.90 and a twelve month high of $18.57.

Brightstar Lottery (NYSE:BRSL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.12. The company had revenue of $584.00 million during the quarter. Brightstar Lottery had a net margin of 10.05% and a return on equity of 10.47%. Equities research analysts anticipate that Brightstar Lottery will post 0.35 EPS for the current year.

Brightstar Lottery Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Tuesday, August 18th. Brightstar Lottery's payout ratio is 70.77%.

Analyst Ratings Changes

BRSL has been the topic of a number of analyst reports. Susquehanna lowered their target price on shares of Brightstar Lottery from $21.00 to $15.00 and set a "positive" rating on the stock in a research note on Thursday, May 14th. Jefferies Financial Group raised Brightstar Lottery from a "hold" rating to a "buy" rating and lifted their price objective for the company from $12.00 to $16.00 in a report on Thursday, August 13th. Zacks Research upgraded Brightstar Lottery from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Argus cut Brightstar Lottery from a "buy" rating to a "hold" rating in a report on Monday, June 29th. 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 report on Wednesday, May 13th. Four investment 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. According to data from MarketBeat, Brightstar Lottery currently has an average rating of "Hold" and a consensus price target of $15.10.

Brightstar Lottery 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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