Brightstar Lottery (NYSE:BRSL) Reaches New 52-Week Low on Analyst Downgrade

Brightstar Lottery (NYSE:BRSL)’s stock price hit a new 52-week low during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $13.00 to $11.00. Truist Financial currently has a hold rating on the stock. Brightstar Lottery traded as low as $9.35 and last traded at $9.4190, with a volume of 1,754,853 shares traded. The stock had previously closed at $9.50.

A number of other research firms have also recently issued reports on BRSL. Jefferies Financial Group raised Brightstar Lottery from a “hold” rating to a “buy” rating and lifted their price objective for the company from $12.00 to $16.00 in a research report on Thursday, August 13th. Wall Street Zen lowered Brightstar Lottery from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Stifel Nicolaus set a $19.00 target price on Brightstar Lottery in a research report on Friday, September 25th. Zacks Research raised Brightstar Lottery from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Brightstar Lottery in a report on Wednesday, July 1st. They set a “buy” rating and a $15.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Brightstar Lottery presently has an average rating of “Hold” and a consensus price target of $14.77.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Brightstar Lottery by 1,233.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,200 shares of the company’s stock valued at $32,000 after purchasing an additional 2,960 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Brightstar Lottery by 34.3% in the second quarter. Envestnet Asset Management Inc. now owns 16,494 shares of the company’s stock worth $177,000 after purchasing an additional 4,216 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Brightstar Lottery by 23.8% in the second quarter. Integrated Wealth Concepts LLC now owns 25,372 shares of the company’s stock worth $272,000 after purchasing an additional 4,880 shares in the last quarter. Readystate Asset Management LP bought a new stake in Brightstar Lottery in the second quarter worth $957,000. Finally, denkapparat Operations GmbH boosted its holdings in Brightstar Lottery by 286.1% in the second quarter. denkapparat Operations GmbH now owns 40,400 shares of the company’s stock worth $433,000 after purchasing an additional 29,936 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

Brightstar Lottery Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 7.08, a P/E/G ratio of 3.82 and a beta of 1.18. The company’s 50-day simple moving average is $10.59 and its 200 day simple moving average is $11.17.

Brightstar Lottery (NYSE:BRSL) last posted its earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. Brightstar Lottery had a return on equity of 10.47% and a net margin of 10.05%. The company had revenue of $584.00 million for the quarter. Equities research analysts forecast that Brightstar Lottery will post 0.35 EPS for the current year.

Brightstar Lottery Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.23 per share. 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 10.0%. Brightstar Lottery’s dividend payout ratio is currently 70.77%.

Brightstar Lottery Company Profile

Brightstar Lottery plc is a global provider of lottery technology, products and services to government-sponsored and commercial lottery operators. The company helps lotteries manage retail and digital operations, improve player engagement and deliver draw-based and instant-win games.

Its offerings include lottery management systems, retail terminals and software, point-of-sale solutions, instant-ticket products, draw-based games and iLottery platforms. Brightstar also provides related digital services, analytics and operational support designed to help lottery operators run secure, efficient and omnichannel programs.

Brightstar Lottery traces its operations to the global lottery business formerly owned by International Game Technology.