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

Burgundy Asset Management Ltd. grew its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Light & Wonder by 13.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,411 shares of the company's stock valued at $20,335,000 after acquiring an additional 28,560 shares during the period. Royal Bank of Canada lifted its position in Light & Wonder by 1,752.9% in the fourth quarter. Royal Bank of Canada now owns 157,073 shares of the company's stock valued at $13,568,000 after purchasing an additional 148,596 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Light & Wonder by 6.8% during the fourth quarter. ProShare Advisors LLC now owns 4,131 shares of the company's stock valued at $357,000 after purchasing an additional 263 shares during the period. Nomura Holdings Inc. grew its holdings in shares of Light & Wonder by 16.5% in the fourth quarter. Nomura Holdings Inc. now owns 31,022 shares of the company's stock worth $2,680,000 after purchasing an additional 4,391 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Light & Wonder by 19.6% in the fourth quarter. Nuveen Asset Management LLC now owns 204,498 shares of the company's stock worth $17,665,000 after buying an additional 33,525 shares during the period. 88.08% of the stock is owned by institutional investors.

Insider Activity

In other news, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Oliver Chow sold 2,595 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now owns 3,695 shares in the company, valued at approximately $387,753.30. The trade was a 41.26% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,867 shares of company stock worth $1,037,884. Insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. 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. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price target on Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Macquarie dropped their price objective on Light & Wonder from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, Mizuho boosted their target price on Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued 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 an average price target of $106.82.

Light & Wonder Stock Up 0.2%

Light & Wonder stock traded up $0.21 on Wednesday, hitting $91.77. 426,382 shares of the stock traded hands, compared to its average volume of 908,387. Light & Wonder, Inc. has a 1 year low of $75.46 and a 1 year high of $115.00. The firm has a market cap of $7.74 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30. 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 business's fifty day simple moving average is $86.11 and its 200 day simple moving average is $91.53.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its quarterly 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). The business had revenue of $774.00 million for the quarter, compared to analysts' expectations of $802.93 million. Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. The company's revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. As a group, sell-side analysts forecast that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

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.