Wellington Management Group LLP Invests $3.37 Million in Light & Wonder, Inc. (NASDAQ:LNW)

Wellington Management Group LLP bought a new stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 38,953 shares of the company's stock, valued at approximately $3,365,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. lifted its holdings in shares of Light & Wonder by 194.3% in the fourth quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after buying an additional 474 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Light & Wonder during the 4th quarter worth approximately $224,000. Farringdon Capital Ltd. purchased a new stake in Light & Wonder in the 4th quarter worth approximately $230,000. LPL Financial LLC lifted its stake in Light & Wonder by 12.2% in the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company's stock worth $231,000 after purchasing an additional 291 shares in the last quarter. Finally, Corton Capital Inc. bought a new position in Light & Wonder in the 4th quarter valued at $245,000. Institutional investors own 88.08% of the company's stock.

Analyst Upgrades and Downgrades

LNW has been the topic of several research analyst reports. Truist Financial decreased their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Benchmark reduced their target price on Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Mizuho upped their target price on Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a research note on Thursday, May 8th. Stifel Nicolaus lifted their price target on Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Finally, Macquarie cut their price objective on Light & Wonder from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $106.82.

Light & Wonder Price Performance

NASDAQ:LNW traded up $1.21 during mid-day trading on Friday, reaching $87.01. The stock had a trading volume of 803,666 shares, compared to its average volume of 831,085. The stock has a market capitalization of $7.34 billion, a P/E ratio of 27.02, a P/E/G ratio of 0.35 and a beta of 1.23. The firm has a 50 day moving average price of $84.44 and a two-hundred day moving average price of $91.10. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. 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 posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.23). The business had revenue of $774.00 million for the quarter, compared to analysts' expectations of $802.93 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The company's revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. As a group, analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

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.