Comerica Bank Has $3.37 Million Position in Light & Wonder, Inc. $LNW

Key Points

• Comerica Bank increased its holdings in Light & Wonder, Inc. by 141.4% during the first quarter, owning a total of 38,936 shares valued at approximately $3.37 million.
• Institutional investors now hold 88.08% of Light & Wonder's stock, with other hedge funds notably increasing their positions as well, such as Versant Capital Management, which grew its position by 4,783.3%.
• Analysts have mixed views on Light & Wonder, with ratings ranging from "strong buy" to "hold" and the consensus target price set at $104.11.

Comerica Bank grew its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 141.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,936 shares of the company's stock after purchasing an additional 22,806 shares during the quarter. Comerica Bank's holdings in Light & Wonder were worth $3,372,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of 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 purchasing an additional 287 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of 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. Harvest Fund Management Co. Ltd acquired a new stake in shares of Light & Wonder in the first quarter valued at about $71,000. CX Institutional acquired a new stake in shares of Light & Wonder in the first quarter valued at about $87,000. Finally, US Bancorp DE grew its position in Light & Wonder by 18.7% during the first quarter. US Bancorp DE now owns 1,164 shares of the company's stock worth $101,000 after buying an additional 183 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LNW shares. Zacks Research lowered Light & Wonder from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Jefferies Financial Group set a $116.00 price target on Light & Wonder in a research note on Wednesday, June 25th. Wall Street Zen lowered Light & Wonder from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Benchmark lowered their price target on Light & Wonder from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Macquarie lowered their price target on Light & Wonder from $122.00 to $117.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $104.11.

Light & Wonder Stock Up 0.7%

NASDAQ LNW opened at $92.47 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.51 and a debt-to-equity ratio of 6.86. The stock's 50 day moving average is $93.81 and its two-hundred day moving average is $92.11. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 0.56 and a beta of 1.21. Light & Wonder, Inc. has a 1-year low of $69.56 and a 1-year high of $115.00.

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

Insider Buying and Selling

In related news, Director Antonia Korsanos acquired 8,065 shares of the firm's stock in a transaction on Sunday, August 10th. The shares were bought at an average cost of $80.05 per share, with a total value of $645,603.25. Following the completion of the acquisition, the director owned 22,815 shares of the company's stock, valued at $1,826,340.75. This trade represents a 54.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hamish Mclennan bought 1,380 shares of Light & Wonder stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $87.61 per share, for a total transaction of $120,901.80. Following the completion of the acquisition, the director directly owned 6,380 shares in the company, valued at $558,951.80. This represents a 27.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 37,756 shares of company stock valued at $3,209,088 over the last ninety days. Company insiders own 2.20% of the company's stock.

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.

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