Squarepoint Ops LLC Has $1.50 Million Stock Holdings in Brightstar Lottery $BRSL

Key Points

• Squarepoint Ops LLC cut its Brightstar Lottery stake by 76.4% in the second quarter, selling 450,747 shares and retaining 139,509 shares worth approximately $1.50 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 rating is Hold with a $15.10 price target. Recent actions included Jefferies upgrading the stock to Buy and Truist lowering its target to $13.
• Brightstar Lottery reported quarterly EPS of $0.11, beating estimates by $0.12, on revenue of $584 million. The company pays a quarterly dividend of $0.23, equivalent to a 8.7% annualized yield.

Squarepoint Ops LLC trimmed its stake in Brightstar Lottery (NYSE:BRSL - Free Report) by 76.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,509 shares of the company's stock after selling 450,747 shares during the quarter. Squarepoint Ops LLC owned approximately 0.07% of Brightstar Lottery worth $1,496,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Readystate Asset Management LP bought a new stake in shares of Brightstar Lottery in the 2nd quarter valued at about $957,000. denkapparat Operations GmbH lifted its position in Brightstar Lottery by 286.1% during the second quarter. denkapparat Operations GmbH now owns 40,400 shares of the company's stock worth $433,000 after acquiring an additional 29,936 shares during the last quarter. BTG Pactual Asset Management US LLC bought a new position in shares of Brightstar Lottery during the second quarter worth approximately $334,000. Hsbc Holdings PLC acquired a new stake in Brightstar Lottery during the 2nd quarter worth approximately $148,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Brightstar Lottery in the 2nd quarter valued at $63,000. Institutional investors and hedge funds own 44.33% of the company's stock.

Analyst Ratings Changes

BRSL has been the topic of a number of research reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Brightstar Lottery in a report on Friday, July 10th. Truist Financial decreased their price target on shares of Brightstar Lottery from $14.00 to $13.00 and set a "hold" rating on the stock in a research note on Monday, July 20th. Zacks Research raised shares of Brightstar Lottery from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft began coverage on shares of Brightstar Lottery in a report on Wednesday, July 1st. They issued a "buy" rating and a $15.00 price objective for the company. Finally, Jefferies Financial Group upgraded shares of Brightstar Lottery from a "hold" rating to a "buy" rating and increased their target price for the stock from $12.00 to $16.00 in a research report on Thursday, August 13th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $15.10.

Brightstar Lottery Price Performance

Shares of NYSE:BRSL opened at $10.56 on Wednesday. The firm has a 50 day moving average of $11.02 and a 200-day moving average of $11.74. The stock has a market capitalization of $1.97 billion, a PE ratio of 8.13, a PEG ratio of 4.36 and a beta of 1.03. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 2.16. Brightstar Lottery has a 12 month low of $9.90 and a 12 month high of $18.57.

Brightstar Lottery (NYSE:BRSL - Get Free Report) last announced its quarterly earnings data 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 net margin of 10.05% and a return on equity of 10.47%. The business had revenue of $584.00 million during the quarter. On average, equities research analysts predict that Brightstar Lottery will post 0.35 EPS for the current fiscal year.

Brightstar Lottery Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.7%. Brightstar Lottery's dividend payout ratio is 70.77%.

Brightstar Lottery Profile

Brightstar Lottery plc NYSE: BRSL is a global lottery technology and services company. The company provides solutions for government-sponsored and regulated lotteries, including lottery systems, retail terminals, draw-based games, instant-ticket products and digital lottery platforms.

Its services support the operation and management of lottery programs across retail and online channels. Brightstar Lottery also provides related technology, transaction processing, content, player engagement and lottery-management services designed to help customers operate secure and efficient gaming programs.

The company was formed from the lottery business formerly operated by International Game Technology (IGT) and serves lottery operators in multiple international markets, including North America, Europe and other regions.

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