FNY Investment Advisers LLC Purchases New Position in Light & Wonder, Inc. (NASDAQ:LNW)

FNY Investment Advisers LLC purchased a new stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 10,500 shares of the company's stock, valued at approximately $909,000.

Several other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Light & Wonder by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company's stock valued at $387,000 after purchasing an additional 108 shares during the last quarter. Centaurus Financial Inc. increased its holdings in Light & Wonder by 3.3% in the 4th quarter. Centaurus Financial Inc. now owns 3,350 shares of the company's stock valued at $289,000 after purchasing an additional 108 shares during the last quarter. Xponance Inc. increased its holdings in Light & Wonder by 0.7% in the 4th quarter. Xponance Inc. now owns 17,769 shares of the company's stock valued at $1,535,000 after purchasing an additional 120 shares during the last quarter. Simon Quick Advisors LLC increased its holdings in Light & Wonder by 2.9% in the 1st quarter. Simon Quick Advisors LLC now owns 4,752 shares of the company's stock valued at $412,000 after purchasing an additional 136 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Light & Wonder by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,901 shares of the company's stock valued at $510,000 after purchasing an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on LNW. Stifel Nicolaus boosted their price target on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Benchmark dropped their price target on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Macquarie boosted their price target on shares of Light & Wonder from $120.00 to $122.00 and gave the stock an "outperform" rating in a research note on Monday. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. Finally, Truist Financial dropped their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.00.

Light & Wonder Stock Down 0.2%

Shares of LNW stock traded down $0.15 on Thursday, reaching $86.10. 836,961 shares of the stock were exchanged, compared to its average volume of 834,409. The company has a current ratio of 1.57, a quick ratio of 1.35 and a debt-to-equity ratio of 6.26. The business's 50 day moving average price is $85.11 and its 200 day moving average price is $90.60. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 0.38 and a beta of 1.23. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). Light & Wonder had a net margin of 10.45% and a return on equity of 68.41%. The company had revenue of $774.00 million during the quarter, compared to analysts' expectations of $802.93 million. During the same period last year, the firm earned $0.88 earnings per share. Light & Wonder's revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Light & Wonder Company Profile

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.