Edgestream Partners L.P. Makes New Investment in Light & Wonder, Inc. (NASDAQ:LNW)

Edgestream Partners L.P. acquired 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 13F filing with the Securities & Exchange Commission. The fund acquired 12,668 shares of the company's stock, valued at approximately $1,097,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Light & Wonder by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock valued at $733,584,000 after buying an additional 100,527 shares during the period. Bessemer Group Inc. boosted its stake in shares of Light & Wonder by 321.7% in the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock valued at $136,152,000 after buying an additional 1,199,213 shares during the period. Burgundy Asset Management Ltd. boosted its stake in shares of Light & Wonder by 2.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company's stock valued at $127,198,000 after buying an additional 28,358 shares during the period. Ninety One UK Ltd boosted its stake in shares of Light & Wonder by 56.7% in the first quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company's stock valued at $101,728,000 after buying an additional 425,202 shares during the period. Finally, Norges Bank bought a new stake in shares of Light & Wonder in the fourth quarter valued at approximately $91,683,000. Institutional investors own 88.08% of the company's stock.

Light & Wonder Trading Down 0.6%

Light & Wonder stock traded down $0.60 during trading hours on Friday, reaching $97.63. 371,772 shares of the company's stock were exchanged, compared to its average volume of 793,083. The firm has a market capitalization of $8.24 billion, a PE ratio of 26.03, a PEG ratio of 0.58 and a beta of 1.23. The firm's 50 day simple moving average is $90.36 and its 200 day simple moving average is $91.35. The company has a quick ratio of 1.35, a current ratio of 1.57 and a debt-to-equity ratio of 6.26. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00.

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

Wall Street Analysts Forecast Growth

LNW has been the subject of several research analyst reports. Macquarie boosted their price objective on shares of Light & Wonder from $120.00 to $122.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. Mizuho boosted their price objective on shares of Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research report on Thursday, May 8th. Stifel Nicolaus raised their price objective on Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Benchmark dropped their target price on Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, Wall Street Zen downgraded Light & Wonder from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $108.36.

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.