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

Key Points

• Readystate Asset Management purchased 89,255 Brightstar Lottery shares worth approximately $957,000 during the second quarter. Institutional investors and hedge funds collectively own 44.33% of the company.
• Brightstar Lottery reported quarterly EPS of $0.11, exceeding the consensus estimate of a $0.01 loss, on revenue of $584 million. The company also pays a quarterly dividend of $0.23, implying an annualized yield of about 8.1%.
• Analyst sentiment remains mixed, with the stock holding a consensus “Hold” rating and a $15.10 target price; shares recently traded near $11.33.

Readystate Asset Management LP purchased a new stake in shares of Brightstar Lottery (NYSE:BRSL - Free Report) 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 - Get Free Report) 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.

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