ING Groep NV Grows Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Key Points

• ING Groep NV increased its stake in Light & Wonder, Inc. by 1.9% during the 1st quarter, owning approximately 0.69% of the company, valued at $50.5 million.
• Multiple institutional investors reported significant increases in their holdings of Light & Wonder, with Bessemer Group Inc. raising its stake by 321.7% during the same period.
• Analysts have set varying price targets for Light & Wonder, with the consensus price target currently at $108.36 and the stock rated as a "Moderate Buy."

ING Groep NV grew its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 1.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 582,926 shares of the company's stock after acquiring an additional 10,926 shares during the quarter. ING Groep NV owned about 0.69% of Light & Wonder worth $50,487,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. grew its holdings in Light & Wonder by 321.7% in the 1st 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 last quarter. Park West Asset Management LLC bought a new position in shares of Light & Wonder during the 4th quarter worth approximately $46,241,000. Ninety One UK Ltd lifted 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 worth $101,728,000 after buying an additional 425,202 shares during the period. Wedge Capital Management L L P NC bought a new position in shares of Light & Wonder during the 1st quarter worth approximately $32,843,000. Finally, Broad Peak Investment Advisers Pte Ltd bought a new position in shares of Light & Wonder during the 1st quarter worth approximately $20,960,000. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Stock Performance

Shares of NASDAQ:LNW traded up $2.54 during mid-day trading on Wednesday, reaching $90.92. The company had a trading volume of 962,291 shares, compared to its average volume of 525,319. The company's 50-day moving average price is $93.12 and its 200-day moving average price is $92.17. The company has a current ratio of 1.57, a quick ratio of 1.35 and a debt-to-equity ratio of 6.26. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.53 and a beta of 1.21.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LNW shares. Stifel Nicolaus lifted their price objective on Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Jefferies Financial Group set a $116.00 price objective on Light & Wonder in a research report on Wednesday, June 25th. Wall Street Zen downgraded Light & Wonder from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Benchmark cut their price objective 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, Mizuho lifted their price objective on Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company 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.