Light & Wonder, Inc. (NASDAQ:LNW) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 27,428.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 109,562 shares of the company's stock after purchasing an additional 109,164 shares during the quarter. GAMMA Investing LLC owned 0.13% of Light & Wonder worth $9,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Light & Wonder during the 4th quarter worth about $91,683,000. Park West Asset Management LLC purchased a new stake in Light & Wonder during the 4th quarter worth about $46,241,000. Bank of Nova Scotia purchased a new stake in Light & Wonder during the 4th quarter worth about $16,020,000. Engine Capital Management LP lifted its stake in Light & Wonder by 1,110.0% in the fourth quarter. Engine Capital Management LP now owns 175,524 shares of the company's stock worth $15,162,000 after acquiring an additional 161,018 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Light & Wonder by 37.0% in the fourth quarter. Invesco Ltd. now owns 587,809 shares of the company's stock worth $50,775,000 after acquiring an additional 158,790 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LNW. JPMorgan Chase & Co. lifted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Benchmark decreased their price target on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, May 12th. 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 note on Thursday, May 8th. Truist Financial decreased their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Mizuho lifted their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.82.

Light & Wonder Stock Performance

LNW traded down $3.69 during trading on Wednesday, hitting $87.11. The stock had a trading volume of 919,867 shares, compared to its average volume of 836,318. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The firm has a market capitalization of $7.35 billion, a P/E ratio of 27.05, a PEG ratio of 0.35 and a beta of 1.23. The company's 50-day moving average price is $84.65 and its 200 day moving average price is $91.02. 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 announced its quarterly earnings data 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 firm had revenue of $774.00 million during the quarter, compared to analyst estimates of $802.93 million. Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. On average, equities research analysts forecast that Light & Wonder, Inc. will post 4.3 EPS 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.