Renaissance Technologies LLC Lowers Stock Holdings in Brightstar Lottery $BRSL

Renaissance Technologies LLC cut its position in Brightstar Lottery (NYSE:BRSL) by 39.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,700 shares of the company’s stock after selling 180,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Brightstar Lottery were worth $3,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in Brightstar Lottery during the 4th quarter worth about $147,133,000. Brown Advisory Inc. acquired a new position in Brightstar Lottery in the 4th quarter valued at about $44,820,000. State Street Corp purchased a new stake in Brightstar Lottery during the fourth quarter worth about $29,860,000. Royce & Associates LP purchased a new stake in Brightstar Lottery during the fourth quarter worth about $24,887,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Brightstar Lottery during the fourth quarter worth about $19,684,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Brightstar Lottery Stock Performance

BRSL stock opened at $11.03 on Friday. The stock’s 50 day moving average price is $11.00. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.10 and a quick ratio of 0.84. Brightstar Lottery has a fifty-two week low of $9.90 and a fifty-two week high of $18.57. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 8.48 and a beta of 1.03.

Brightstar Lottery (NYSE:BRSL) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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 company had revenue of $584.00 million during the quarter. Equities analysts forecast that Brightstar Lottery will post 0.4 EPS for the current fiscal year.

Brightstar Lottery Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend is Tuesday, August 18th. Brightstar Lottery’s payout ratio is 70.77%.

Analysts Set New Price Targets

BRSL has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Brightstar Lottery in a research note on Friday, July 10th. BNP Paribas Exane assumed coverage on shares of Brightstar Lottery in a report on Thursday, May 14th. They set a “neutral” rating and a $12.60 target price on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $19.00 price target (down from $20.00) on shares of Brightstar Lottery in a research report on Wednesday, May 13th. Argus downgraded shares of Brightstar Lottery from a “buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Susquehanna cut their price objective on Brightstar Lottery from $21.00 to $15.00 and set a “positive” rating on the stock in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brightstar Lottery currently has an average rating of “Hold” and an average price target of $14.77.

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.