Iridian Asset Management LLC CT Has $7.22 Million Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Iridian Asset Management LLC CT reduced its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 16.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,351 shares of the company's stock after selling 16,841 shares during the period. Light & Wonder makes up about 2.3% of Iridian Asset Management LLC CT's holdings, making the stock its 14th biggest holding. Iridian Asset Management LLC CT owned approximately 0.10% of Light & Wonder worth $7,219,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LNW. Versant Capital Management Inc grew its position in Light & Wonder by 4,783.3% in 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 during the last quarter. Farther Finance Advisors LLC increased its position in Light & Wonder by 3,861.1% in the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock valued at $63,000 after acquiring an additional 695 shares during the period. CX Institutional acquired a new stake in Light & Wonder in the 1st quarter valued at approximately $87,000. GAMMA Investing LLC raised its stake in Light & Wonder by 217.8% during the 1st quarter. GAMMA Investing LLC now owns 1,265 shares of the company's stock valued at $110,000 after acquiring an additional 867 shares in the last quarter. Finally, Steph & Co. acquired a new position in Light & Wonder during the 1st quarter worth $149,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LNW shares. Benchmark lowered their price target on 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 boosted their price target on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Truist Financial decreased their price objective on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Light & Wonder from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Macquarie upped their target price on Light & Wonder from $120.00 to $122.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $106.55.

Light & Wonder Stock Up 1.1%

NASDAQ LNW traded up $1.10 on Wednesday, reaching $101.11. The stock had a trading volume of 620,733 shares, compared to its average volume of 799,911. 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 1 year low of $75.46 and a 1 year high of $115.00. The business has a 50 day moving average price of $88.77 and a 200 day moving average price of $90.66. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 0.44 and a beta of 1.23.

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 firm had revenue of $774.00 million during the quarter, compared to analyst estimates of $802.93 million. Light & Wonder had a return on equity of 68.41% and a net margin of 10.45%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 EPS. On average, analysts forecast that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal 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.