Harvard Management Co. Inc. Has $91.71 Million Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Key Points

• Harvard Management Co. Inc. has reduced its stake in Light & Wonder, Inc. by 26.6%, selling 382,805 shares in the first quarter, and now holds 1,058,892 shares worth approximately $91.7 million.
• Shares of Light & Wonder are currently down 6.4%, with a market cap of $7.46 billion and a P/E ratio of 23.57.
• In the latest earnings report, Light & Wonder missed consensus profit estimates, reporting earnings per share (EPS) of $0.94 against the expected $1.17, despite a 2.4% year-over-year revenue increase.

Harvard Management Co. Inc. cut its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 26.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,058,892 shares of the company's stock after selling 382,805 shares during the quarter. Light & Wonder makes up approximately 8.1% of Harvard Management Co. Inc.'s portfolio, making the stock its 6th biggest position. Harvard Management Co. Inc. owned 1.25% of Light & Wonder worth $91,711,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LNW. Bessemer Group Inc. boosted its position in Light & Wonder by 321.7% during the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock valued at $136,152,000 after acquiring an additional 1,199,213 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of Light & Wonder by 2.0% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company's stock valued at $127,198,000 after purchasing an additional 28,358 shares during the period. Ninety One UK Ltd boosted its position in shares of Light & Wonder by 56.7% during the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company's stock valued at $101,728,000 after purchasing an additional 425,202 shares in the last quarter. Deutsche Bank AG grew its stake in 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 purchasing an additional 119,616 shares during the period. Finally, Northern Trust Corp increased its holdings in Light & Wonder by 12.9% in the fourth quarter. Northern Trust Corp now owns 727,235 shares of the company's stock worth $62,819,000 after purchasing an additional 83,150 shares in the last quarter. Institutional investors own 88.08% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group set a $116.00 price target on Light & Wonder in a report on Wednesday, June 25th. Benchmark cut their target price on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday. Stifel Nicolaus raised 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. JPMorgan Chase & Co. lowered shares of Light & Wonder from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $108.00 to $95.00 in a report on Thursday. Finally, Macquarie cut their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $105.64.

Light & Wonder Stock Up 1.3%

Shares of LNW traded up $0.99 on Friday, reaching $78.86. The company's stock had a trading volume of 3,362,011 shares, compared to its average volume of 844,787. The company has a current ratio of 1.77, a quick ratio of 1.35 and a debt-to-equity ratio of 6.86. The firm has a fifty day moving average of $92.60 and a 200-day moving average of $92.00. The stock has a market capitalization of $6.62 billion, a PE ratio of 19.91, a PEG ratio of 0.46 and a beta of 1.21. Light & Wonder, Inc. has a twelve month low of $69.56 and a twelve month high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.11 EPS for the quarter, missing analysts' consensus estimates of $1.44 by ($0.33). The company had revenue of $809.00 million during the quarter, compared to analysts' expectations of $851.29 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. Equities analysts predict that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Light & Wonder Company 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.