Norges Bank Takes Position in Brightstar Lottery $BRSL

Norges Bank purchased a new stake in shares of Brightstar Lottery (NYSE:BRSL) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,263,918 shares of the company’s stock, valued at approximately $19,565,000. Norges Bank owned 0.63% of Brightstar Lottery as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Gabelli Funds LLC purchased a new stake in shares of Brightstar Lottery during the 4th quarter valued at approximately $7,388,000. HighTower Advisors LLC purchased a new stake in shares of Brightstar Lottery during the 4th quarter valued at approximately $4,541,000. Royce & Associates LP purchased a new stake in shares of Brightstar Lottery during the 4th quarter valued at approximately $24,887,000. Kingsview Wealth Management LLC purchased a new stake in shares of Brightstar Lottery during the 4th quarter valued at approximately $2,574,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Brightstar Lottery during the 4th quarter valued at approximately $2,012,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on BRSL. Susquehanna reduced their price target 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. Stifel Nicolaus reiterated a “buy” rating and issued a $19.00 target price (down from $20.00) on shares of Brightstar Lottery in a report on Wednesday, May 13th. Weiss Ratings downgraded shares of Brightstar Lottery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, April 14th. Zacks Research downgraded shares of Brightstar Lottery from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Finally, BNP Paribas Exane started coverage on shares of Brightstar Lottery in a report on Thursday, May 14th. They issued a “neutral” rating and a $12.60 target price for the company. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.92.

Brightstar Lottery Stock Up 2.8%

NYSE:BRSL opened at $11.57 on Wednesday. The stock has a fifty day simple moving average of $12.07. The firm has a market capitalization of $2.16 billion, a P/E ratio of 13.93 and a beta of 0.99. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 1.79. Brightstar Lottery has a 52 week low of $10.42 and a 52 week high of $18.57.

Brightstar Lottery (NYSE:BRSL) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). The business had revenue of $587.00 million during the quarter. Brightstar Lottery had a return on equity of 10.58% and a net margin of 6.24%.Brightstar Lottery’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts expect that Brightstar Lottery will post 0.79 EPS for the current year.

Brightstar Lottery Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be paid a $0.23 dividend. The ex-dividend date is Thursday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 8.0%. Brightstar Lottery’s payout ratio is 110.84%.

Brightstar Lottery 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.