New York State Teachers Retirement System Reduces Stake in Light & Wonder, Inc. (NASDAQ:LNW)

New York State Teachers Retirement System reduced its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,154 shares of the company's stock after selling 2,972 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Light & Wonder worth $6,942,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LNW. Bessemer Group Inc. boosted its holdings in shares of Light & Wonder by 321.7% in the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock valued at $136,152,000 after purchasing an additional 1,199,213 shares during the period. Inceptionr LLC purchased a new stake in shares of Light & Wonder in the 4th quarter worth $261,000. AXQ Capital LP lifted its holdings in shares of Light & Wonder by 94.6% in the 4th quarter. AXQ Capital LP now owns 7,198 shares of the company's stock worth $622,000 after buying an additional 3,500 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Light & Wonder by 29.2% during the fourth quarter. Teacher Retirement System of Texas now owns 23,903 shares of the company's stock valued at $2,065,000 after buying an additional 5,397 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Light & Wonder by 107.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 20,528 shares of the company's stock valued at $1,756,000 after acquiring an additional 10,647 shares in the last quarter. Institutional investors own 88.08% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a report on Wednesday, June 25th. Wall Street Zen raised shares of Light & Wonder from a "hold" rating to a "buy" rating in a report on Saturday. Mizuho boosted their price objective on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a research note on Thursday, May 8th. Benchmark dropped their target price on Light & Wonder from $130.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, 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 report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.55.

Light & Wonder Stock Performance

Shares of Light & Wonder stock traded down $0.73 during midday trading on Monday, hitting $98.79. The company had a trading volume of 1,042,922 shares, compared to its average volume of 798,650. The company has a fifty day simple moving average of $88.19 and a 200 day simple moving average of $90.50. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 0.43 and a beta of 1.23. The company has a quick ratio of 1.35, a current ratio of 1.57 and a debt-to-equity ratio of 6.26. Light & Wonder, Inc. has a 12-month low of $75.46 and a 12-month high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its quarterly 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 return on equity of 68.41% and a net margin of 10.45%. The company had revenue of $774.00 million during the quarter, compared to analysts' expectations of $802.93 million. During the same period in the prior year, the business posted $0.88 EPS. The company's quarterly revenue was up 2.4% on a year-over-year basis. 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.