Light & Wonder, Inc. $LNW Shares Bought by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its ownership in Light & Wonder, Inc. by 14.1%, holding shares worth approximately $6.32 million as of the latest 13F filing.
• Light & Wonder's stock has been rated as a "Moderate Buy" with a consensus price target of $104.11 after several analysts have adjusted their ratings and targets.
• The company reported an EPS of $1.58 for the last quarter, surpassing estimates, but its revenue fell short of expectations at $809 million, down 1.1% year-over-year.

Voya Investment Management LLC grew its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 14.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,002 shares of the company's stock after purchasing an additional 9,043 shares during the period. Voya Investment Management LLC owned approximately 0.09% of Light & Wonder worth $6,323,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in LNW. Nuveen Asset Management LLC boosted its position in shares of Light & Wonder by 19.6% during the 4th quarter. Nuveen Asset Management LLC now owns 204,498 shares of the company's stock worth $17,665,000 after purchasing an additional 33,525 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Light & Wonder by 6.8% during the 4th quarter. ProShare Advisors LLC now owns 4,131 shares of the company's stock worth $357,000 after purchasing an additional 263 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Light & Wonder by 1,752.9% in the 4th quarter. Royal Bank of Canada now owns 157,073 shares of the company's stock worth $13,568,000 after buying an additional 148,596 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Light & Wonder by 13.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,411 shares of the company's stock worth $20,335,000 after buying an additional 28,560 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its position in shares of Light & Wonder by 2.0% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company's stock worth $127,198,000 after buying an additional 28,358 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Antonia Korsanos bought 8,065 shares of the business's stock in a transaction that occurred on Sunday, August 10th. The stock was purchased at an average price of $80.05 per share, with a total value of $645,603.25. Following the purchase, the director owned 22,815 shares of the company's stock, valued at $1,826,340.75. This trade represents a 54.68% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy Throsby bought 20,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $89.37 per share, with a total value of $1,787,400.00. Following the purchase, the director directly owned 42,082 shares in the company, valued at $3,760,868.34. The trade was a 90.57% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 37,756 shares of company stock worth $3,209,088. Company insiders own 2.20% of the company's stock.

Light & Wonder Price Performance

LNW stock traded down $0.94 during trading on Friday, hitting $87.28. The stock had a trading volume of 1,190,095 shares, compared to its average volume of 1,072,637. The company's 50 day moving average price is $91.53 and its two-hundred day moving average price is $90.39. Light & Wonder, Inc. has a 1-year low of $69.56 and a 1-year high of $113.95. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 0.53 and a beta of 1.18. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.51 and a current ratio of 1.77.

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

Analyst Upgrades and Downgrades

LNW has been the topic of several recent research reports. Benchmark decreased their price objective on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Truist Financial boosted their price objective 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. Jefferies Financial Group set a $116.00 price objective on shares of Light & Wonder in a research report on Wednesday, June 25th. Wall Street Zen lowered shares of Light & Wonder from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Finally, Macquarie decreased their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.11.

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.