Readystate Asset Management LP Purchases Shares of 89,255 Brightstar Lottery $BRSL

Readystate Asset Management LP purchased a new position in shares of Brightstar Lottery (NYSE:BRSL) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 89,255 shares of the company’s stock, valued at approximately $957,000.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BRSL shares. Weiss Ratings restated a “sell (d+)” rating on shares of Brightstar Lottery in a research note on Friday, July 10th. Wall Street Zen cut shares of Brightstar Lottery from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Truist Financial decreased their price objective on shares of Brightstar Lottery from $14.00 to $13.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Susquehanna dropped 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 report on Thursday, May 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $19.00 target price (down from $20.00) on shares of Brightstar Lottery in a research note on Wednesday, May 13th. Four equities 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.10.

Brightstar Lottery Stock Performance

NYSE:BRSL opened at $11.33 on Tuesday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 4.61 and a beta of 1.03. Brightstar Lottery has a fifty-two week low of $9.90 and a fifty-two week high of $18.57. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.00 and a current ratio of 1.10. The stock has a fifty day moving average price of $11.06 and a 200-day moving average price of $11.85.

Brightstar Lottery (NYSE:BRSL) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $584.00 million for the quarter. Brightstar Lottery had a return on equity of 10.47% and a net margin of 10.05%. As a group, equities analysts anticipate that Brightstar Lottery will post 0.35 EPS for the current fiscal year.

Brightstar Lottery Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 18th. This represents a $0.92 dividend on an annualized basis and a yield of 8.1%. Brightstar Lottery’s payout ratio is currently 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.