Aristides Capital LLC Makes New Investment in Light & Wonder, Inc. $LNW

Key Points

• Aristides Capital LLC has taken a new position in Light & Wonder, Inc. by purchasing 2,812 shares worth approximately $244,000.
• Institutional investors currently own 88.08% of Light & Wonder's stock, highlighting significant institutional interest in the company.
• Despite a reported earnings per share of $1.58 for the last quarter, the company fell short of revenue expectations with $809 million against the forecast of $851.29 million.

Aristides Capital LLC acquired a new stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,812 shares of the company's stock, valued at approximately $244,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Comerica Bank boosted its holdings in Light & Wonder by 141.4% during the first quarter. Comerica Bank now owns 38,936 shares of the company's stock valued at $3,372,000 after purchasing an additional 22,806 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Light & Wonder by 0.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 901,778 shares of the company's stock valued at $78,104,000 after purchasing an additional 3,472 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Light & Wonder during the first quarter valued at approximately $3,604,000. Burgundy Asset Management Ltd. boosted its holdings in Light & Wonder by 6.9% during the first quarter. Burgundy Asset Management Ltd. now owns 1,574,589 shares of the company's stock valued at $136,375,000 after purchasing an additional 102,051 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Light & Wonder by 2.5% during the first quarter. American Century Companies Inc. now owns 15,321 shares of the company's stock valued at $1,327,000 after purchasing an additional 370 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Trading Up 0.7%

LNW stock traded up $0.64 during trading on Friday, hitting $92.47. The company had a trading volume of 700,158 shares, compared to its average volume of 1,570,761. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86. The firm has a 50-day moving average price of $93.81 and a 200-day moving average price of $92.13. Light & Wonder, Inc. has a 12 month low of $69.56 and a 12 month high of $115.00. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 0.55 and a beta of 1.21.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.14. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The firm had revenue of $809.00 million during the quarter, compared to analysts' expectations of $851.29 million. During the same quarter in the previous year, the company posted $0.90 EPS. Light & Wonder's revenue was down 1.1% on a year-over-year basis. As a group, analysts predict that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Insider Activity at Light & Wonder

In related news, Director Jamie Odell acquired 8,275 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $78.81 per share, for a total transaction of $652,152.75. Following the transaction, the director directly owned 8,275 shares of the company's stock, valued at approximately $652,152.75. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hamish Mclennan bought 1,380 shares of the stock in a transaction on Tuesday, August 12th. The shares were acquired at an average cost of $87.61 per share, with a total value of $120,901.80. Following the acquisition, the director directly owned 6,380 shares in the company, valued at approximately $558,951.80. This trade represents a 27.60% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 37,756 shares of company stock worth $3,209,088. Company insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LNW shares. Wall Street Zen downgraded Light & Wonder from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a research note on Wednesday, June 25th. Mizuho lifted their target price on shares of Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research note on Thursday, May 8th. Stifel Nicolaus lifted their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, Macquarie cut their target price on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $104.11.

About Light & Wonder

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.