Burgundy Asset Management Ltd. Acquires 28,358 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Burgundy Asset Management Ltd. raised its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,472,538 shares of the company's stock after buying an additional 28,358 shares during the quarter. Burgundy Asset Management Ltd. owned 1.67% of Light & Wonder worth $127,198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Light & Wonder by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock valued at $733,584,000 after purchasing an additional 100,527 shares in the last quarter. Norges Bank acquired a new stake in shares of Light & Wonder in the 4th quarter valued at $91,683,000. Deutsche Bank AG boosted its stake in shares of Light & Wonder by 15.6% in the 4th quarter. Deutsche Bank AG now owns 887,492 shares of the company's stock valued at $76,662,000 after purchasing an additional 119,616 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Light & Wonder by 12.9% in the 4th quarter. Northern Trust Corp now owns 727,235 shares of the company's stock valued at $62,819,000 after purchasing an additional 83,150 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Light & Wonder by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 725,637 shares of the company's stock valued at $62,677,000 after purchasing an additional 33,684 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Trading Up 6.5%

Shares of LNW stock traded up $5.55 on Tuesday, reaching $91.56. The company had a trading volume of 1,539,331 shares, compared to its average volume of 818,958. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The stock has a market cap of $7.73 billion, a PE ratio of 28.43, a PEG ratio of 0.35 and a beta of 1.30. The company has a 50-day moving average of $86.37 and a 200-day moving average of $91.53. Light & Wonder, Inc. has a 12 month low of $75.46 and a 12 month high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The business had revenue of $774.00 million for the quarter, compared to the consensus estimate of $802.93 million. During the same period in the previous year, the company posted $0.88 earnings per share. Light & Wonder's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LNW. JPMorgan Chase & Co. boosted their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. Macquarie reduced their price target on shares of Light & Wonder from $125.00 to $120.00 and set an "outperform" rating on the stock 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 on the stock in a research report on Wednesday, April 23rd. Finally, Mizuho upped their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Light & Wonder has a consensus rating of "Moderate Buy" and a consensus target price of $106.82.

Insider Buying and Selling

In other news, VP James Sottile sold 2,356 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the sale, the vice president now owns 77,331 shares of the company's stock, valued at $8,161,513.74. The trade was a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Oliver Chow sold 2,595 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $104.94, for a total transaction of $272,319.30. Following the completion of the sale, the chief financial officer now directly owns 3,695 shares in the company, valued at approximately $387,753.30. This represents a 41.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,867 shares of company stock valued at $1,037,884. 2.20% of the stock is owned by corporate insiders.

About Light & Wonder

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.