Brown Advisory Inc. Takes $44.82 Million Position in Brightstar Lottery $BRSL

Brown Advisory Inc. acquired a new stake in Brightstar Lottery (NYSE:BRSL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,895,356 shares of the company’s stock, valued at approximately $44,820,000. Brown Advisory Inc. owned about 1.43% of Brightstar Lottery as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. acquired a new position in Brightstar Lottery during the fourth quarter worth $31,000. Empowered Funds LLC acquired a new position in Brightstar Lottery during the fourth quarter worth $57,000. Quadrant Capital Group LLC acquired a new position in Brightstar Lottery during the fourth quarter worth $60,000. PNC Financial Services Group Inc. acquired a new position in Brightstar Lottery during the fourth quarter worth $93,000. Finally, Global Retirement Partners LLC acquired a new position in Brightstar Lottery during the fourth quarter worth $106,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BRSL shares. Zacks Research downgraded Brightstar Lottery from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Susquehanna decreased their target price on Brightstar Lottery from $21.00 to $15.00 and set a “positive” rating on the stock in a report on Thursday, May 14th. Jefferies Financial Group reduced their price objective on shares of Brightstar Lottery from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $19.00 price objective (down from $20.00) on shares of Brightstar Lottery in a research report on Wednesday, May 13th. Finally, Weiss Ratings cut shares of Brightstar Lottery from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Brightstar Lottery currently has a consensus rating of “Hold” and an average price target of $14.92.

Brightstar Lottery Price Performance

BRSL stock opened at $11.57 on Tuesday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.84 and a current ratio of 0.88. The stock’s fifty day moving average is $11.99. Brightstar Lottery has a one year low of $10.42 and a one year high of $18.57. The company has a market capitalization of $2.16 billion, a PE ratio of 13.94 and a beta of 1.00.

Brightstar Lottery (NYSE:BRSL) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Brightstar Lottery had a return on equity of 10.58% and a net margin of 6.24%.The company had revenue of $587.00 million for the quarter. Brightstar Lottery’s revenue was up .7% compared to the same quarter last year. Research analysts anticipate that Brightstar Lottery will post 0.79 EPS for the current fiscal year.

Brightstar Lottery Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a $0.23 dividend. The ex-dividend date was Thursday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 7.9%. Brightstar Lottery’s dividend payout ratio is 110.84%.

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.