Dynamic Technology Lab Private Ltd Buys New Position in Light & Wonder, Inc. $LNW

Key Points

• Dynamic Technology Lab Private Ltd purchased 3,700 shares of Light & Wonder, Inc. for approximately $320,000, as reported in a 13F filing with the SEC.
• Light & Wonder's recent earnings report showed an earnings per share of $1.58, exceeding estimates, but their revenue of $809 million fell short of analyst predictions.
• Several analysts have adjusted their ratings and price targets for Light & Wonder, with Zacks downgrading the stock from a "strong-buy" to a "hold" rating.

Dynamic Technology Lab Private Ltd acquired a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,700 shares of the company's stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNW. Centaurus Financial Inc. lifted its stake in Light & Wonder by 3.3% during the fourth quarter. Centaurus Financial Inc. now owns 3,350 shares of the company's stock worth $289,000 after purchasing an additional 108 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Light & Wonder by 0.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company's stock worth $1,907,000 after buying an additional 133 shares in the last quarter. Simon Quick Advisors LLC raised its holdings in shares of Light & Wonder by 2.9% during the 1st quarter. Simon Quick Advisors LLC now owns 4,752 shares of the company's stock worth $412,000 after buying an additional 136 shares in the last quarter. KBC Group NV lifted its position in shares of Light & Wonder by 3.8% during the 1st quarter. KBC Group NV now owns 3,746 shares of the company's stock worth $324,000 after buying an additional 137 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Light & Wonder by 18.7% in the first quarter. US Bancorp DE now owns 1,164 shares of the company's stock valued at $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.

Light & Wonder Trading Up 0.1%

NASDAQ LNW traded up $0.07 on Thursday, reaching $88.22. The company had a trading volume of 1,800,234 shares, compared to its average volume of 1,016,546. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 0.53 and a beta of 1.18. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. Light & Wonder, Inc. has a fifty-two week low of $69.56 and a fifty-two week high of $115.00. The business has a 50 day moving average of $91.74 and a two-hundred day moving average of $90.74.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.58 EPS 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 return on equity of 71.17% and a net margin of 10.89%.The business's revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. Analysts forecast that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on LNW. Truist Financial boosted their target price on Light & Wonder from $110.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. cut shares of Light & Wonder from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $108.00 to $95.00 in a research report on Thursday, August 7th. Benchmark dropped their price objective on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Zacks Research cut shares of Light & Wonder from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Macquarie dropped their price target on 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 research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $104.11.

Insider Buying and Selling

In related news, Director Antonia Korsanos bought 8,065 shares of Light & Wonder stock in a transaction that occurred on Sunday, August 10th. The shares were acquired at an average cost of $80.05 per share, for a total transaction of $645,603.25. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy Throsby purchased 20,000 shares of the stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $89.37 per share, with a total value of $1,787,400.00. Following the acquisition, the director owned 42,082 shares in the company, valued at approximately $3,760,868.34. The trade was a 90.57% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 37,756 shares of company stock valued at $3,209,088. 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.