Brightstar Lottery (NYSE:BRSL) Sets New 52-Week Low – Time to Sell?

Brightstar Lottery (NYSE:BRSL) hit a new 52-week low during trading on Wednesday. The company traded as low as $9.59 and last traded at $9.66, with a volume of 382,847 shares traded. The stock had previously closed at $9.96.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BRSL. Truist Financial cut their target price on shares of Brightstar Lottery from $14.00 to $13.00 and set a “hold” rating for the company in a report on Monday, July 20th. Wall Street Zen downgraded shares of Brightstar Lottery from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Stifel Nicolaus set a $19.00 price target on shares of Brightstar Lottery in a research report on Friday, September 25th. 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, Jefferies Financial Group upgraded shares of Brightstar Lottery from a “hold” rating to a “buy” rating and upped their price objective for the stock from $12.00 to $16.00 in a research report on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Brightstar Lottery currently has an average rating of “Hold” and a consensus price target of $15.10.

Brightstar Lottery Stock Performance

The company has a debt-to-equity ratio of 2.16, a current ratio of 1.10 and a quick ratio of 1.00. The firm has a fifty day simple moving average of $10.73 and a 200 day simple moving average of $11.26. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 3.90 and a beta of 1.18.

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

Brightstar Lottery Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were paid 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 yield of 9.5%. Brightstar Lottery’s dividend payout ratio (DPR) is currently 70.77%.

Institutional Investors Weigh In On Brightstar Lottery

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Brightstar Lottery by 16.5% during the second quarter. BlackRock Inc. now owns 6,785,934 shares of the company’s stock valued at $72,745,000 after purchasing an additional 961,306 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Brightstar Lottery by 17.3% during the first quarter. Bank of America Corp DE now owns 1,031,022 shares of the company’s stock worth $13,135,000 after purchasing an additional 151,839 shares in the last quarter. Orvieto Partners L.P. increased its stake in shares of Brightstar Lottery by 2.0% during the first quarter. Orvieto Partners L.P. now owns 753,596 shares of the company’s stock worth $9,601,000 after purchasing an additional 15,000 shares in the last quarter. Deutsche Bank AG raised its position in shares of Brightstar Lottery by 1.0% during the 2nd quarter. Deutsche Bank AG now owns 854,803 shares of the company’s stock worth $9,163,000 after purchasing an additional 8,479 shares during the last quarter. Finally, Gabelli Funds LLC raised its position in shares of Brightstar Lottery by 6.5% during the 1st quarter. Gabelli Funds LLC now owns 508,266 shares of the company’s stock worth $6,475,000 after purchasing an additional 31,000 shares during the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.

About Brightstar Lottery

Brightstar Lottery Corporation (NYSE: BRSL) is a global lottery technology and services company. The company provides governments and lottery operators with products and solutions for draw-based games, instant-ticket lotteries, and digital or iLottery programs.

Its offerings include lottery management systems, point-of-sale terminals, transaction processing, gaming content, digital platforms, player engagement tools, analytics, and related operational and technology services. Brightstar also supports the design, production, and distribution of lottery products, helping customers manage retail and online lottery channels.

Brightstar Lottery was established as the standalone company formed from International Game Technology’s former Global Lottery business.