Envestnet Asset Management Inc. Takes $1.13 Million Position in Light & Wonder, Inc. (NASDAQ:LNW)

Key Points

• Envestnet Asset Management Inc. has acquired a new stake in Light & Wonder, purchasing 13,042 shares valued at approximately $1,130,000 in the first quarter.
• Institutional investors significantly dominate ownership, holding 88.08% of the company's stock, with notable increases in holdings from several large investors.
• Light & Wonder recently reported quarterly earnings with an EPS of $0.94, falling short of the consensus estimate, alongside a 2.4% year-over-year revenue increase.

Envestnet Asset Management Inc. 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 disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,042 shares of the company's stock, valued at approximately $1,130,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its stake 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. Farther Finance Advisors LLC boosted its position in Light & Wonder by 3,861.1% during the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock worth $63,000 after acquiring an additional 695 shares during the last quarter. CX Institutional acquired a new stake in Light & Wonder during the first quarter worth approximately $87,000. GAMMA Investing LLC boosted its position in Light & Wonder by 217.8% during the first quarter. GAMMA Investing LLC now owns 1,265 shares of the company's stock worth $110,000 after acquiring an additional 867 shares during the last quarter. Finally, Steph & Co. acquired a new stake in Light & Wonder during the first quarter worth approximately $149,000. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Stock Up 3.7%

Shares of NASDAQ LNW traded up $3.31 during midday trading on Wednesday, reaching $91.69. The company's stock had a trading volume of 413,709 shares, compared to its average volume of 869,801. 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 current ratio of 1.57, a quick ratio of 1.35 and a debt-to-equity ratio of 6.26. The stock has a 50 day simple moving average of $93.12 and a 200-day simple moving average of $92.17. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 0.56 and a beta of 1.21.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 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%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. Equities 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 topic of a number of research analyst reports. Benchmark decreased their price target on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Stifel Nicolaus lifted their price target on shares of Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Macquarie lifted their target price on shares of Light & Wonder from $120.00 to $122.00 and gave the company an "outperform" rating in a report on Monday, June 16th. Wall Street Zen lowered shares of Light & Wonder from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $108.36.

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.