Sei Investments Co. Increases Position in Brightstar Lottery $BRSL

Key Points

• Sei Investments more than doubled its Brightstar Lottery stake in the first quarter, adding 162,541 shares to own 322,220 shares valued at approximately $4.1 million. Institutional investors collectively hold 44.33% of the company.
• Analyst sentiment is mixed: three analysts rate BRSL a Buy, five rate it Hold and one rates it Sell. The consensus rating is Hold, with an average price target of $14.77 versus a recent price of $11.09.
• Brightstar Lottery reported quarterly EPS of $0.11, beating the consensus estimate of a $0.01 loss, on revenue of $584 million. The company also declared a quarterly dividend of $0.23, representing an annualized yield of approximately 8.3%.

Sei Investments Co. lifted its stake in Brightstar Lottery (NYSE:BRSL - Free Report) by 101.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322,220 shares of the company's stock after purchasing an additional 162,541 shares during the period. Sei Investments Co. owned approximately 0.17% of Brightstar Lottery worth $4,105,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brown Advisory Inc. acquired a new stake in shares of Brightstar Lottery during the 4th quarter valued at approximately $44,820,000. Royce & Associates LP purchased a new stake in shares of Brightstar Lottery during the 4th quarter worth approximately $24,887,000. Intech Investment Management LLC acquired a new stake in shares of Brightstar Lottery in the 4th quarter worth approximately $705,000. HighTower Advisors LLC acquired a new stake in shares of Brightstar Lottery in the 4th quarter worth approximately $4,541,000. Finally, Gabelli Funds LLC purchased a new position in Brightstar Lottery in the 4th quarter valued at approximately $7,388,000. Hedge funds and other institutional investors own 44.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on BRSL. Stifel Nicolaus reiterated 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. Argus cut Brightstar Lottery from a "buy" rating to a "hold" rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft began coverage on Brightstar Lottery in a research note on Wednesday, July 1st. They set a "buy" rating and a $15.00 price target for the company. Weiss Ratings reiterated a "sell (d+)" rating on shares of Brightstar Lottery in a research report on Friday, July 10th. Finally, Susquehanna lowered their price objective 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. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.77.

Brightstar Lottery Price Performance

Brightstar Lottery stock opened at $11.09 on Friday. The firm has a market cap of $2.07 billion, a PE ratio of 8.53 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 debt-to-equity ratio of 2.16, a current ratio of 1.10 and a quick ratio of 0.84. The business's 50-day moving average price is $11.00.

Brightstar Lottery (NYSE:BRSL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.12. Brightstar Lottery had a net margin of 10.05% and a return on equity of 10.47%. The business had revenue of $584.00 million during the quarter. As a group, analysts forecast that Brightstar Lottery will post 0.4 EPS for the current year.

Brightstar Lottery Announces Dividend

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 issued a $0.23 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.92 annualized dividend and a yield of 8.3%. Brightstar Lottery's payout ratio is 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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