Brightstar Lottery $BRSL Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services Co. reduced its Brightstar Lottery stake by 3.1%, selling 223,859 shares and retaining 6.97 million shares worth approximately $74.7 million. Institutional investors collectively own 44.33% of the company.
• Analyst sentiment is mixed, with four Buy, four Hold and one Sell rating; the consensus is Hold with a $15.10 price target. Jefferies upgraded the stock to Buy and raised its target to $16.
• Brightstar Lottery beat quarterly earnings expectations with $0.11 in EPS on $584 million in revenue and declared a quarterly dividend of $0.23, representing a 7.8% annualized yield.

Massachusetts Financial Services Co. MA trimmed its holdings in Brightstar Lottery (NYSE:BRSL - Free Report) by 3.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,965,735 shares of the company's stock after selling 223,859 shares during the period. Massachusetts Financial Services Co. MA owned 3.73% of Brightstar Lottery worth $74,673,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BRSL. Nomura Asset Management Co. Ltd. acquired a new position in Brightstar Lottery in the 4th quarter valued at about $31,000. NewEdge Advisors LLC purchased a new stake in Brightstar Lottery during the 4th quarter valued at approximately $32,000. Knott David M Jr acquired a new stake in Brightstar Lottery during the 1st quarter worth approximately $32,000. Rockefeller Capital Management L.P. purchased a new position in shares of Brightstar Lottery in the 4th quarter valued at approximately $52,000. Finally, Empowered Funds LLC purchased a new position in shares of Brightstar Lottery in the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 44.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BRSL. Jefferies Financial Group raised Brightstar Lottery from a "hold" rating to a "buy" rating and boosted their target price for the company from $12.00 to $16.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Brightstar Lottery in a research report on Wednesday, July 1st. They issued a "buy" rating and a $15.00 price objective on the stock. Stifel Nicolaus reissued a "buy" rating and issued a $19.00 price objective (down from $20.00) on shares of Brightstar Lottery in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Brightstar Lottery from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, BNP Paribas Exane assumed coverage on shares of Brightstar Lottery in a research report on Thursday, May 14th. They set a "neutral" rating and a $12.60 price objective for the company. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.10.

Brightstar Lottery Trading Up 0.9%

NYSE BRSL opened at $11.79 on Friday. The firm has a market cap of $2.20 billion, a PE ratio of 9.07 and a beta of 1.03. The stock's 50 day simple moving average is $11.01. Brightstar Lottery has a 12-month low of $9.90 and a 12-month high of $18.57. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.10 and a quick ratio of 1.00.

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

Brightstar Lottery Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $0.23 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.92 annualized dividend and a yield of 7.8%. Brightstar Lottery's dividend payout ratio is presently 70.77%.

About Brightstar Lottery

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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