242,000 Shares in Light & Wonder, Inc. (NASDAQ:LNW) Purchased by Broad Peak Investment Advisers Pte Ltd

Broad Peak Investment Advisers Pte Ltd bought a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 242,000 shares of the company's stock, valued at approximately $20,960,000. Light & Wonder makes up about 14.1% of Broad Peak Investment Advisers Pte Ltd's holdings, making the stock its 4th biggest holding. Broad Peak Investment Advisers Pte Ltd owned about 0.29% of Light & Wonder as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Light & Wonder by 4,783.3% in the first quarter. Versant Capital Management Inc now owns 293 shares of the company's stock valued at $25,000 after buying an additional 287 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Light & Wonder by 3,861.1% in the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock valued at $63,000 after purchasing an additional 695 shares during the last quarter. CX Institutional purchased a new position in Light & Wonder in the first quarter valued at approximately $87,000. GAMMA Investing LLC increased its stake in Light & Wonder by 217.8% in the first quarter. GAMMA Investing LLC now owns 1,265 shares of the company's stock valued at $110,000 after purchasing an additional 867 shares during the last quarter. Finally, Steph & Co. purchased a new position in Light & Wonder in the first quarter valued at approximately $149,000. Institutional investors and hedge funds own 88.08% of the company's stock.

Analyst Ratings Changes

LNW has been the topic of several recent analyst reports. Stifel Nicolaus increased their price target 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. Mizuho raised their target price on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a research report on Thursday, May 8th. Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a research report on Wednesday, June 25th. Macquarie raised their target price on shares of Light & Wonder from $120.00 to $122.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Finally, Wall Street Zen upgraded shares of Light & Wonder from a "hold" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $106.55.

Light & Wonder Price Performance

Light & Wonder stock traded up $1.10 during midday trading on Wednesday, reaching $101.11. The company's stock had a trading volume of 620,733 shares, compared to its average volume of 799,911. Light & Wonder, Inc. has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 6.26, a quick ratio of 1.35 and a current ratio of 1.57. The stock's 50 day simple moving average is $89.08 and its 200 day simple moving average is $90.73. The firm has a market capitalization of $8.53 billion, a PE ratio of 26.96, a P/E/G ratio of 0.44 and a beta of 1.23.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.94 EPS 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 business had revenue of $774.00 million during the quarter, compared to analyst estimates of $802.93 million. During the same period last year, the business posted $0.88 EPS. Light & Wonder's revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Light & Wonder 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.