Perpetual Ltd Has $14.59 Million Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Perpetual Ltd decreased its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 35.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,427 shares of the company's stock after selling 91,584 shares during the period. Perpetual Ltd owned 0.20% of Light & Wonder worth $14,587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNW. New York State Common Retirement Fund grew its holdings in Light & Wonder by 0.5% during the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company's stock worth $3,477,000 after acquiring an additional 200 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Light & Wonder in the 4th quarter worth $596,000. Inceptionr LLC bought a new position in shares of Light & Wonder in the 4th quarter worth $261,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Light & Wonder by 11.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,885 shares of the company's stock worth $1,890,000 after purchasing an additional 2,326 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Light & Wonder by 393.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,554 shares of the company's stock valued at $3,589,000 after purchasing an additional 33,136 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Light & Wonder Stock Down 0.3%

Shares of Light & Wonder stock traded down $0.28 on Tuesday, hitting $95.98. The company had a trading volume of 812,729 shares, compared to its average volume of 796,264. The stock has a 50-day moving average of $87.24 and a 200-day moving average of $90.26. The company has a debt-to-equity ratio of 6.26, a current ratio of 1.57 and a quick ratio of 1.35. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00. The firm has a market capitalization of $8.10 billion, a P/E ratio of 25.59, a P/E/G ratio of 0.42 and a beta of 1.23.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). The company 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%. Light & Wonder's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. Research analysts predict that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

LNW has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $116.00 target price on Light & Wonder in a report on Wednesday, June 25th. Stifel Nicolaus increased their price target 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. Mizuho boosted their price objective on shares of Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a report on Thursday, May 8th. Truist Financial lowered their target price 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, Macquarie increased their target price on shares of Light & Wonder from $120.00 to $122.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Light & Wonder currently has an average rating of "Moderate Buy" and an average 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.