GAMMA Investing LLC Purchases 109,164 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

GAMMA Investing LLC raised its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 27,428.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,562 shares of the company's stock after acquiring an additional 109,164 shares during the period. GAMMA Investing LLC owned about 0.13% of Light & Wonder worth $9,489,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LNW. Vanguard Group Inc. grew its holdings in shares of Light & Wonder by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock valued at $733,584,000 after purchasing an additional 100,527 shares during the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of Light & Wonder by 2.0% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company's stock worth $127,198,000 after buying an additional 28,358 shares during the last quarter. Norges Bank bought a new stake in shares of Light & Wonder during the fourth quarter worth $91,683,000. Deutsche Bank AG increased its holdings in shares of Light & Wonder by 15.6% during the fourth quarter. Deutsche Bank AG now owns 887,492 shares of the company's stock worth $76,662,000 after buying an additional 119,616 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Light & Wonder by 12.9% in the 4th quarter. Northern Trust Corp now owns 727,235 shares of the company's stock valued at $62,819,000 after acquiring an additional 83,150 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Trading Up 1.6%

LNW traded up $1.37 during trading on Monday, hitting $88.38. The company's stock had a trading volume of 625,379 shares, compared to its average volume of 830,262. The firm has a market capitalization of $7.46 billion, a P/E ratio of 27.45, a PEG ratio of 0.35 and a beta of 1.23. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The stock's fifty day moving average price is $84.44 and its 200-day moving average price is $91.10.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate 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 49.91% and a net margin of 9.30%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 earnings per share. Analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Analyst Upgrades and Downgrades

LNW has been the subject of a number of recent research reports. Benchmark lowered their target price on Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a report on Monday, May 12th. Mizuho upped their price objective on Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research note on Thursday, May 8th. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. Macquarie decreased their price target on shares of Light & Wonder from $125.00 to $120.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, Stifel Nicolaus lifted their price target on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Light & Wonder presently has an average rating of "Moderate Buy" and a consensus price target of $106.82.

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.