Lazard Asset Management LLC Decreases Position in Brightstar Lottery $BRSL

Lazard Asset Management LLC decreased its holdings in Brightstar Lottery (NYSE:BRSL) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,060,606 shares of the company’s stock after selling 444,141 shares during the period. Lazard Asset Management LLC’s holdings in Brightstar Lottery were worth $115,432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of BRSL. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Brightstar Lottery in the fourth quarter valued at $31,000. NewEdge Advisors LLC purchased a new stake in Brightstar Lottery during the 4th quarter worth about $32,000. Gamco Investors INC. ET AL increased its holdings in Brightstar Lottery by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 277,075 shares of the company’s stock worth $3,530,000 after purchasing an additional 2,200 shares during the period. Knott David M Jr acquired a new stake in Brightstar Lottery in the 1st quarter valued at about $32,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Brightstar Lottery by 2.1% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 132,704 shares of the company’s stock valued at $1,691,000 after purchasing an additional 2,750 shares in the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Brightstar Lottery Stock Performance

BRSL opened at $10.48 on Tuesday. 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 one year low of $10.20 and a one year high of $18.57. The stock has a market cap of $1.96 billion, a P/E ratio of 12.63 and a beta of 1.00. The firm has a 50-day simple moving average of $11.07.

Brightstar Lottery (NYSE:BRSL) last posted its earnings results on Tuesday, May 12th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). Brightstar Lottery had a return on equity of 10.58% and a net margin of 6.24%.Brightstar Lottery’s revenue was up .7% compared to the same quarter last year. As a group, analysts predict that Brightstar Lottery will post 0.4 earnings per share for the current fiscal year.

Brightstar Lottery Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.92 dividend on an annualized basis and a yield of 8.8%. Brightstar Lottery’s dividend payout ratio (DPR) is presently 110.84%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Susquehanna lowered their price objective on Brightstar Lottery from $21.00 to $15.00 and set a “positive” rating for the company in a research report on Thursday, May 14th. Zacks Research raised shares of Brightstar Lottery from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Jefferies Financial Group decreased their price target on shares of Brightstar Lottery from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Truist Financial dropped their price objective on shares of Brightstar Lottery from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Brightstar Lottery in a report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.77.

Brightstar Lottery Company 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.