Rhumbline Advisers Has $21.53 Million Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Rhumbline Advisers lessened its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 248,573 shares of the company's stock after selling 3,254 shares during the period. Rhumbline Advisers owned about 0.29% of Light & Wonder worth $21,529,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Blue Trust Inc. lifted its position in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after acquiring an additional 474 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in shares of Light & Wonder by 94.3% during the fourth quarter. Iridian Asset Management LLC CT now owns 100,192 shares of the company's stock valued at $8,655,000 after purchasing an additional 48,621 shares during the period. CIBC Asset Management Inc raised its stake in shares of Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company's stock valued at $510,000 after purchasing an additional 146 shares during the period. New York State Common Retirement Fund lifted its position in shares of Light & Wonder by 0.5% during the fourth quarter. New York State Common Retirement Fund now owns 40,250 shares of the company's stock worth $3,477,000 after purchasing an additional 200 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of Light & Wonder by 590.3% in the fourth quarter. Ieq Capital LLC now owns 20,343 shares of the company's stock valued at $1,757,000 after purchasing an additional 17,396 shares during the period. Hedge funds and other institutional investors own 88.08% of the company's stock.

Analyst Upgrades and Downgrades

LNW has been the topic of a number of recent analyst reports. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. Macquarie dropped their target price on 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 cut their price target on Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus raised their price objective on Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Light & Wonder currently has an average rating of "Moderate Buy" and a consensus price target of $106.82.

Light & Wonder Stock Performance

Shares of LNW traded up $2.42 during mid-day trading on Tuesday, hitting $90.80. The stock had a trading volume of 1,503,513 shares, compared to its average volume of 834,527. 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 market cap of $7.66 billion, a PE ratio of 28.20, a PEG ratio of 0.35 and a beta of 1.23. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The company's fifty day simple moving average is $84.50 and its two-hundred day simple moving average is $91.05.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced 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 net margin of 9.30% and a return on equity of 49.91%. The company had revenue of $774.00 million during the quarter, compared to the consensus estimate of $802.93 million. During the same quarter in the prior year, the company earned $0.88 EPS. The business's quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

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.