Norges Bank Invests $19.57 Million in Brightstar Lottery $BRSL

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

Several other institutional investors have also modified their holdings of BRSL. Gabelli Funds LLC purchased a new stake in shares of Brightstar Lottery during the 4th quarter worth $7,388,000. Gamco Investors INC. ET AL purchased a new stake in shares of Brightstar Lottery during the 4th quarter worth $4,255,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Brightstar Lottery during the 4th quarter worth $2,012,000. HighTower Advisors LLC purchased a new stake in shares of Brightstar Lottery during the 4th quarter worth $4,541,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Brightstar Lottery during the 4th quarter worth $297,000. 44.33% of the stock is owned by hedge funds and other institutional investors.

Brightstar Lottery Price Performance

Shares of BRSL opened at $11.57 on Wednesday. Brightstar Lottery has a 1-year low of $10.42 and a 1-year high of $18.57. The stock has a market capitalization of $2.16 billion, a PE 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. The company has a fifty day moving average of $12.07.

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

Brightstar Lottery Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. 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. BNP Paribas Exane started coverage on shares of Brightstar Lottery in a research report on Thursday, May 14th. They set a “neutral” rating and a $12.60 price objective for the company. Susquehanna reduced their price target on shares of Brightstar Lottery from $21.00 to $15.00 and set a “positive” rating for the company in a research report on Thursday, May 14th. Jefferies Financial Group reduced 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 report on Monday, April 6th. Finally, Zacks Research cut shares of Brightstar Lottery from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.92.

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.