Counterpoint Mutual Funds LLC Purchases Shares of 3,463 Light & Wonder, Inc. $LNW

Key Points

• Counterpoint Mutual Funds LLC purchased 3,463 shares of Light & Wonder, Inc., valued at approximately $333,000, during the 2nd quarter.
• Major analysts have recently downgraded Light & Wonder's stock ratings, with JPMorgan lowering its rating from "overweight" to "neutral" and decreasing the target price to $95.00.
• Insider transactions show significant buying, with directors purchasing a total of 37,756 shares worth over $3.2 million in the past ninety days, indicating strong executive confidence in the company.

Counterpoint Mutual Funds LLC purchased a new stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,463 shares of the company's stock, valued at approximately $333,000.

Other large investors have also recently bought and sold shares of the company. ProShare Advisors LLC grew its position in shares of Light & Wonder by 6.8% during the 4th quarter. ProShare Advisors LLC now owns 4,131 shares of the company's stock worth $357,000 after purchasing an additional 263 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Light & Wonder by 13.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,411 shares of the company's stock worth $20,335,000 after purchasing an additional 28,560 shares in the last quarter. Centaurus Financial Inc. grew its position in shares of Light & Wonder by 3.3% during the 4th quarter. Centaurus Financial Inc. now owns 3,350 shares of the company's stock worth $289,000 after purchasing an additional 108 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Light & Wonder during the 4th quarter worth approximately $3,365,000. Finally, Versant Capital Management Inc grew its position in shares of Light & Wonder by 4,783.3% during the 1st quarter. Versant Capital Management Inc now owns 293 shares of the company's stock worth $25,000 after purchasing an additional 287 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

Insider Buying and Selling at Light & Wonder

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

Wall Street Analyst Weigh In

LNW has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Light & Wonder from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $108.00 to $95.00 in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Light & Wonder from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Macquarie reduced their price target on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Truist Financial increased their price target on shares of Light & Wonder from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Benchmark reduced their price target on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Light & Wonder currently has an average rating of "Moderate Buy" and an average price target of $105.88.

Light & Wonder Stock Performance

Shares of Light & Wonder stock opened at $84.72 on Thursday. Light & Wonder, Inc. has a fifty-two week low of $69.56 and a fifty-two week high of $113.94. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. The firm has a market capitalization of $7.11 billion, a P/E ratio of 21.39, a P/E/G ratio of 0.53 and a beta of 1.18. The company's 50 day moving average price is $90.88 and its two-hundred day moving average price is $90.21.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its earnings results 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 firm had revenue of $809.00 million for the quarter, compared to analyst estimates of $851.29 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The company's quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. On average, equities analysts forecast that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal 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.

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