Natixis Advisors LLC Boosts Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Key Points

• Natixis Advisors LLC significantly increased its stake in Light & Wonder, Inc. by 236.8%, owning approximately 46,747 shares valued at $4.05 million as of its latest SEC filing.
• Multiple institutional investors, including Bessemer Group Inc. and Ninety One UK Ltd, have also elevated their positions in Light & Wonder, indicating strong investor interest in the company, with 88.08% of the stock owned by institutional investors.
• Despite reporting a loss against earnings projections in its last quarter, Light & Wonder is expected to maintain a "Moderate Buy" rating with a consensus target price of $108.36.

Natixis Advisors LLC boosted its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 236.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 46,747 shares of the company's stock after purchasing an additional 32,867 shares during the period. Natixis Advisors LLC owned approximately 0.06% of Light & Wonder worth $4,049,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in Light & Wonder by 321.7% during the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock worth $136,152,000 after acquiring an additional 1,199,213 shares during the last quarter. Ninety One UK Ltd lifted its position in shares of Light & Wonder by 56.7% during the first quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company's stock worth $101,728,000 after purchasing an additional 425,202 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Light & Wonder by 63.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,191 shares of the company's stock worth $363,000 after purchasing an additional 1,632 shares during the period. Calamos Wealth Management LLC bought a new position in shares of Light & Wonder during the first quarter worth about $294,000. Finally, Penserra Capital Management LLC boosted its position in shares of Light & Wonder by 463.6% during the 1st quarter. Penserra Capital Management LLC now owns 12,738 shares of the company's stock valued at $1,102,000 after purchasing an additional 10,478 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Benchmark reduced their price objective on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Friday. Stifel Nicolaus raised their price objective on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut Light & Wonder from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $108.00 to $95.00 in a research report on Thursday. Macquarie decreased their price objective on Light & Wonder from $122.00 to $117.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Mizuho upped their price objective on Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $108.10.

Light & Wonder Price Performance

NASDAQ LNW traded up $0.99 during trading on Friday, reaching $78.86. The company's stock had a trading volume of 3,362,011 shares, compared to its average volume of 844,787. The stock has a market capitalization of $6.62 billion, a PE ratio of 19.91, a P/E/G ratio of 0.47 and a beta of 1.21. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.35. The firm has a fifty day moving average of $92.60 and a 200 day moving average of $92.01. Light & Wonder, Inc. has a one year low of $69.56 and a one year high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.14. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%. The business had revenue of $809.00 million during the quarter, compared to analysts' expectations of $851.29 million. During the same quarter last year, the business posted $0.90 EPS. The business's revenue was down 1.1% on a year-over-year basis. Analysts expect that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal 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.