379,200 Shares in Light & Wonder, Inc. (NASDAQ:LNW) Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC purchased a new position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 379,200 shares of the company's stock, valued at approximately $32,843,000. Wedge Capital Management L L P NC owned about 0.45% of Light & Wonder at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of LNW. GAMMA Investing LLC increased its position in shares of Light & Wonder by 27,428.1% during the first quarter. GAMMA Investing LLC now owns 109,562 shares of the company's stock valued at $9,489,000 after purchasing an additional 109,164 shares during the period. Versant Capital Management Inc boosted its holdings in 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 in the last quarter. Wellington Management Group LLP acquired a new stake in Light & Wonder during the fourth quarter valued at approximately $3,365,000. Centaurus Financial Inc. grew its stake in shares of Light & Wonder by 3.3% in the 4th quarter. Centaurus Financial Inc. now owns 3,350 shares of the company's stock valued at $289,000 after purchasing an additional 108 shares during the period. Finally, Burgundy Asset Management Ltd. raised its holdings 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 institutional investors and hedge funds.

Light & Wonder Trading Down 4.1%

Shares of LNW stock traded down $3.69 on Wednesday, reaching $87.11. 919,857 shares of the stock were exchanged, compared to its average volume of 834,867. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00. The stock has a market cap of $7.35 billion, a PE ratio of 27.05, a P/E/G ratio of 0.35 and a beta of 1.23. The stock has a 50 day moving average price of $84.50 and a 200 day moving average price of $91.05.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.23). The firm had revenue of $774.00 million for the quarter, compared to the consensus estimate of $802.93 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. During the same period in the prior year, the firm posted $0.88 earnings per share. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts forecast that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Analysts Set New Price Targets

LNW has been the topic of a number of analyst reports. Citigroup upgraded Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Truist Financial cut their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Mizuho upped 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. Finally, Benchmark cut their target price on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Light & Wonder presently has an average rating of "Moderate Buy" and an average price target of $106.82.

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.