Bessemer Group Inc. Raises Position in Light & Wonder, Inc. (NASDAQ:LNW)

Bessemer Group Inc. lifted its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 321.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,572,022 shares of the company's stock after purchasing an additional 1,199,213 shares during the quarter. Bessemer Group Inc. owned 1.86% of Light & Wonder worth $136,152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Light & Wonder by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock worth $733,584,000 after purchasing an additional 100,527 shares during the period. Burgundy Asset Management Ltd. grew its stake in shares of Light & Wonder by 2.0% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company's stock worth $127,198,000 after purchasing an additional 28,358 shares during the period. Norges Bank acquired a new stake in Light & Wonder in the 4th quarter valued at $91,683,000. Deutsche Bank AG increased its holdings in Light & Wonder by 15.6% in the 4th quarter. Deutsche Bank AG now owns 887,492 shares of the company's stock worth $76,662,000 after acquiring an additional 119,616 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Light & Wonder by 12.9% in the 4th quarter. Northern Trust Corp now owns 727,235 shares of the company's stock worth $62,819,000 after acquiring an additional 83,150 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Trading Up 0.2%

Shares of Light & Wonder stock traded up $0.17 during mid-day trading on Friday, hitting $95.82. The stock had a trading volume of 1,058,199 shares, compared to its average volume of 843,159. The firm has a 50-day moving average of $86.56 and a two-hundred day moving average of $90.23. Light & Wonder, Inc. has a 12-month low of $75.46 and a 12-month high of $115.00. The company has a quick ratio of 1.35, a current ratio of 1.57 and a debt-to-equity ratio of 6.26. The firm has a market cap of $8.09 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 0.42 and a beta of 1.23.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LNW shares. 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 report on Thursday, May 8th. 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 report on Monday, June 16th. Mizuho boosted their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a report on Thursday, May 8th. Jefferies Financial Group set a $116.00 price target on shares of Light & Wonder in a report on Wednesday. Finally, Truist Financial lowered their target price on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Light & Wonder currently has an average rating of "Moderate Buy" and an average price target of $106.55.

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.