201,187 Shares in Light & Wonder, Inc. $LNW Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake in Light & Wonder, purchasing 201,187 shares valued at approximately $17.4 million, increasing its ownership to 0.24% by the end of the last quarter.
• Light & Wonder's stock price rose 3.6%, with its current market cap at $7.67 billion and a price-to-earnings ratio of 23.08.
• Several investment firms have adjusted their price targets for Light & Wonder, with Truist Financial raising theirs from $110 to $130, while Benchmark lowered theirs from $100 to $90.

Nuveen LLC acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 201,187 shares of the company's stock, valued at approximately $17,425,000. Nuveen LLC owned 0.24% of Light & Wonder as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of LNW. Versant Capital Management Inc boosted its holdings in shares of Light & Wonder by 4,783.3% in the first quarter. Versant Capital Management Inc now owns 293 shares of the company's stock valued at $25,000 after acquiring an additional 287 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Light & Wonder by 3,861.1% in the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock valued at $63,000 after purchasing an additional 695 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Light & Wonder during the 1st quarter worth approximately $71,000. CX Institutional acquired a new position in Light & Wonder during the 1st quarter worth approximately $87,000. Finally, US Bancorp DE raised its stake in shares of Light & Wonder by 18.7% during the 1st quarter. US Bancorp DE now owns 1,164 shares of the company's stock worth $101,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company's stock.

Light & Wonder Price Performance

Light & Wonder stock traded up $2.14 during mid-day trading on Friday, hitting $92.18. 922,931 shares of the company were exchanged, compared to its average volume of 1,449,225. Light & Wonder, Inc. has a 12-month low of $69.56 and a 12-month high of $115.00. The company has a market capitalization of $7.74 billion, a P/E ratio of 23.28, a PEG ratio of 0.54 and a beta of 1.21. The business's 50 day simple moving average is $93.06 and its two-hundred day simple moving average is $92.06. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Jefferies Financial Group set a $116.00 price objective on Light & Wonder in a report on Wednesday, June 25th. Macquarie lowered their price target on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. downgraded shares of Light & Wonder from an "overweight" rating to a "neutral" rating and cut their price target for the company from $108.00 to $95.00 in a report on Thursday, August 7th. Zacks Research downgraded shares of Light & Wonder from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, Truist Financial upped their target price on shares of Light & Wonder from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.10.

Insider Activity

In other news, Director Hamish Mclennan acquired 1,380 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average price of $87.61 per share, with a total value of $120,901.80. Following the completion of the transaction, the director directly owned 6,380 shares in the company, valued at approximately $558,951.80. This represents a 27.60% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jamie Odell acquired 8,275 shares of Light & Wonder stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $78.81 per share, for a total transaction of $652,152.75. Following the purchase, the director directly owned 8,275 shares of the company's stock, valued at approximately $652,152.75. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 37,756 shares of company stock valued at $3,209,088 in the last 90 days. Company insiders own 2.20% of the company's stock.

Light & Wonder Company 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.