Penserra Capital Management LLC Purchases 10,478 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Penserra Capital Management LLC boosted its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 463.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,738 shares of the company's stock after purchasing an additional 10,478 shares during the period. Penserra Capital Management LLC's holdings in Light & Wonder were worth $1,102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Calamos Wealth Management LLC bought a new position in Light & Wonder in the first quarter valued at $294,000. Teacher Retirement System of Texas grew its position in Light & Wonder by 3.8% in the first quarter. Teacher Retirement System of Texas now owns 24,800 shares of the company's stock valued at $2,148,000 after purchasing an additional 897 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Light & Wonder in the first quarter valued at $217,000. Smith Group Asset Management LLC bought a new position in Light & Wonder in the first quarter valued at $11,578,000. Finally, KBC Group NV grew its position in Light & Wonder by 3.8% in the first quarter. KBC Group NV now owns 3,746 shares of the company's stock valued at $324,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 88.08% of the company's stock.

Light & Wonder Stock Performance

Shares of NASDAQ LNW traded down $0.29 during mid-day trading on Thursday, reaching $100.83. 135,340 shares of the company were exchanged, compared to its average volume of 919,140. The company's 50-day simple moving average is $89.08 and its 200-day simple moving average is $90.73. The company has a quick ratio of 1.35, a current ratio of 1.57 and a debt-to-equity ratio of 6.26. The stock has a market capitalization of $8.51 billion, a P/E ratio of 26.89, a P/E/G ratio of 0.44 and a beta of 1.23. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve 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). The company had revenue of $774.00 million for 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 business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 EPS. As a group, research analysts predict that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of Light & Wonder from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Mizuho increased their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research note on Thursday, May 8th. Jefferies Financial Group set a $116.00 price target on shares of Light & Wonder in a research note on Wednesday, June 25th. Truist Financial cut their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Benchmark cut their price target on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company 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 assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $106.55.

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.