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

A number of other hedge funds and other institutional investors have also modified their holdings of LNW. Versant Capital Management Inc increased its position in shares of Light & Wonder by 4,783.3% during the first quarter. Versant Capital Management Inc now owns 293 shares of the company's stock valued at $25,000 after purchasing an additional 287 shares during the period. Farther Finance Advisors LLC grew its holdings in Light & Wonder by 3,861.1% during the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock worth $63,000 after acquiring an additional 695 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Light & Wonder during the first quarter valued at approximately $71,000. CX Institutional bought a new position in Light & Wonder in the 1st quarter worth approximately $87,000. Finally, GAMMA Investing LLC lifted its holdings in Light & Wonder by 217.8% during the 1st quarter. GAMMA Investing LLC now owns 1,265 shares of the company's stock worth $110,000 after buying an additional 867 shares in the last quarter. Institutional investors own 88.08% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LNW shares. Mizuho lifted their target price on Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research note on Thursday, May 8th. Benchmark dropped their price objective on Light & Wonder from $100.00 to $90.00 and set a "buy" rating for the company in a report on Friday. Stifel Nicolaus lifted 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. Jefferies Financial Group set a $116.00 target price on Light & Wonder in a research note on Wednesday, June 25th. Finally, Macquarie lowered their price target on Light & Wonder from $122.00 to $117.00 and set an "outperform" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.64.

Light & Wonder Price Performance

Shares of LNW stock traded up $0.99 on Friday, hitting $78.86. 3,362,011 shares of the company's stock were exchanged, compared to its average volume of 928,750. The company has a 50 day moving average of $92.84 and a 200 day moving average of $92.08. The stock has a market cap of $6.65 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 0.54 and a beta of 1.21. 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 12 month low of $69.56 and a 12 month high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.33). The business had revenue of $809.00 million for the quarter, compared to analyst estimates of $851.29 million. Light & Wonder had a return on equity of 71.10% and a net margin of 10.89%. The firm's quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, equities research analysts predict that Light & Wonder, Inc. will post 4.3 EPS for the current 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.