Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,573 shares of the company's stock after selling 3,254 shares during the quarter. Rhumbline Advisers owned about 0.29% of Light & Wonder worth $21,529,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LNW. Blue Trust Inc. lifted its holdings in shares of Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after buying an additional 474 shares during the period. Iridian Asset Management LLC CT raised its holdings in Light & Wonder by 94.3% during the fourth quarter. Iridian Asset Management LLC CT now owns 100,192 shares of the company's stock worth $8,655,000 after purchasing an additional 48,621 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company's stock worth $510,000 after purchasing an additional 146 shares during the last quarter. New York State Common Retirement Fund raised its holdings in 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 during the last quarter. Finally, Ieq Capital LLC raised its holdings in Light & Wonder by 590.3% during the fourth quarter. Ieq Capital LLC now owns 20,343 shares of the company's stock worth $1,757,000 after purchasing an additional 17,396 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Benchmark reduced their price objective on Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a report on Monday, May 12th. Truist Financial reduced their price objective on Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. Macquarie reduced 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 lifted their price objective on Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Light & Wonder presently has an average rating of "Moderate Buy" and an average price target of $106.82.

Light & Wonder Stock Performance

NASDAQ LNW opened at $87.01 on Friday. Light & Wonder, Inc. has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 0.35 and a beta of 1.23. The business has a fifty day moving average of $84.44 and a 200-day moving average of $91.14. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

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

Want to see what other hedge funds are holding LNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Light & Wonder, Inc. (NASDAQ:LNW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.