Iridian Asset Management LLC CT trimmed its holdings 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 SEC. The fund owned 83,351 shares of the company's stock after selling 16,841 shares during the quarter. Light & Wonder accounts for 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 hedge funds have also recently made changes to their positions in LNW. Vanguard Group Inc. raised its stake in shares of Light & Wonder by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock valued at $733,584,000 after acquiring an additional 100,527 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of 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 buying an additional 1,199,213 shares during the last quarter. Burgundy Asset Management Ltd. grew its holdings 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 valued at $127,198,000 after buying an additional 28,358 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Light & Wonder by 56.7% in the first quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company's stock worth $101,728,000 after purchasing an additional 425,202 shares during the last quarter. Finally, Norges Bank purchased a new stake in Light & Wonder in the fourth quarter worth approximately $91,683,000. 88.08% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
LNW has been the topic of several recent analyst reports. Macquarie raised their price objective on shares of Light & Wonder from $120.00 to $122.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. Stifel Nicolaus boosted their price objective on shares of Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Truist Financial reduced their price target 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, July 5th. Finally, Benchmark cut their price target on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $106.55.
Get Our Latest Report on LNW
Light & Wonder Trading Down 0.2%
Shares of NASDAQ LNW traded down $0.15 on Thursday, reaching $100.96. 227,169 shares of the company traded hands, compared to its average volume of 797,696. Light & Wonder, Inc. has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The company has a 50 day moving average of $89.08 and a 200 day moving average of $90.73. The company has a current ratio of 1.57, a quick ratio of 1.35 and a debt-to-equity ratio of 6.26. The stock has a market capitalization of $8.52 billion, a PE ratio of 26.93, a P/E/G ratio of 0.44 and a beta of 1.23.
Light & Wonder (NASDAQ:LNW - Get Free Report) last posted 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 company had revenue of $774.00 million for the quarter, compared to analyst estimates of $802.93 million. Light & Wonder had a net margin of 10.45% and a return on equity of 68.41%. The company'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 EPS. On average, equities research analysts forecast that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.
About Light & Wonder
(
Free Report)
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.
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