Smith Group Asset Management LLC Invests $11.58 Million in Light & Wonder, Inc. (NASDAQ:LNW)

Smith Group Asset Management LLC bought a new stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 133,678 shares of the company's stock, valued at approximately $11,578,000. Smith Group Asset Management LLC owned about 0.16% of Light & Wonder at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LNW. Versant Capital Management Inc raised its stake in Light & Wonder by 4,783.3% during the 1st quarter. Versant Capital Management Inc now owns 293 shares of the company's stock valued at $25,000 after acquiring an additional 287 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Light & Wonder by 3,861.1% in the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock valued at $63,000 after purchasing an additional 695 shares during the period. CX Institutional acquired a new stake in shares of Light & Wonder during the first quarter worth $87,000. GAMMA Investing LLC lifted its holdings in shares of Light & Wonder by 217.8% during the first quarter. GAMMA Investing LLC now owns 1,265 shares of the company's stock worth $110,000 after purchasing an additional 867 shares during the period. Finally, Steph & Co. purchased a new position in Light & Wonder in the 1st quarter valued at $149,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LNW. Stifel Nicolaus increased their target price on Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Benchmark reduced their target price on Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a report on Monday, May 12th. Macquarie increased their price target on shares of Light & Wonder from $120.00 to $122.00 and gave the company an "outperform" rating in a report on Monday, June 16th. Truist Financial reduced their price objective on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $106.55.

Light & Wonder Price Performance

LNW traded down $0.28 on Tuesday, reaching $95.98. The company had a trading volume of 812,729 shares, compared to its average volume of 795,863. The company has a market capitalization of $8.10 billion, a P/E ratio of 25.59, a PEG ratio of 0.42 and a beta of 1.23. The company has a current ratio of 1.57, a quick ratio of 1.35 and a debt-to-equity ratio of 6.26. The company has a fifty day moving average of $86.92 and a 200-day moving average of $90.22. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued 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 net margin of 10.45% and a return on equity of 68.41%. The business had revenue of $774.00 million during the quarter, compared to analyst estimates of $802.93 million. During the same period in the previous year, the company posted $0.88 earnings per share. Light & Wonder's revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current 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.