M&G Investment Management Ltd. Buys 8,690 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

M&G Investment Management Ltd. lifted its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,463 shares of the company's stock after purchasing an additional 8,690 shares during the quarter. M&G Investment Management Ltd. owned 0.12% of Light & Wonder worth $9,058,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Light & Wonder in the 3rd quarter valued at approximately $31,000. DekaBank Deutsche Girozentrale acquired a new stake in Light & Wonder in the 3rd quarter valued at approximately $36,000. USA Financial Formulas acquired a new stake in Light & Wonder in the 4th quarter valued at approximately $62,000. SG Americas Securities LLC raised its position in Light & Wonder by 30.8% in the 3rd quarter. SG Americas Securities LLC now owns 2,256 shares of the company's stock valued at $161,000 after buying an additional 531 shares during the last quarter. Finally, CI Investments Inc. raised its position in Light & Wonder by 1,789.1% in the 3rd quarter. CI Investments Inc. now owns 2,418 shares of the company's stock valued at $172,000 after buying an additional 2,290 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

Insider Activity at Light & Wonder

In other news, CAO Vanja Kalabic sold 1,149 shares of the business's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $100.72, for a total transaction of $115,727.28. Following the completion of the transaction, the chief accounting officer now owns 1,600 shares of the company's stock, valued at approximately $161,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Light & Wonder news, CAO Vanja Kalabic sold 1,149 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $100.72, for a total value of $115,727.28. Following the completion of the transaction, the chief accounting officer now owns 1,600 shares of the company's stock, valued at approximately $161,152. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James Sottile sold 1,549 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $101.15, for a total value of $156,681.35. Following the completion of the transaction, the vice president now directly owns 57,478 shares of the company's stock, valued at approximately $5,813,899.70. The disclosure for this sale can be found here. Insiders sold 7,537 shares of company stock worth $760,427 in the last ninety days. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on LNW. Stifel Nicolaus restated a "hold" rating and issued a $103.00 price target (up from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th. Mizuho decreased their price target on Light & Wonder from $83.00 to $79.00 and set an "underperform" rating for the company in a research note on Thursday, May 9th. Redburn Atlantic downgraded Light & Wonder from a "buy" rating to a "neutral" rating and raised their price target for the company from $105.00 to $110.00 in a research note on Monday, March 11th. Truist Financial raised their price target on Light & Wonder from $90.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on Light & Wonder from $98.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $95.08.

Light & Wonder Stock Performance

LNW traded up $1.69 during trading on Wednesday, hitting $94.68. The stock had a trading volume of 716,213 shares, compared to its average volume of 595,551. The company has a 50 day moving average price of $96.99 and a 200-day moving average price of $88.98. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 39.29 and a beta of 1.80. Light & Wonder, Inc. has a one year low of $56.01 and a one year high of $108.90. The company has a debt-to-equity ratio of 4.61, a current ratio of 1.98 and a quick ratio of 1.72.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.03). The firm had revenue of $770.00 million during the quarter, compared to the consensus estimate of $748.30 million. Light & Wonder had a net margin of 7.43% and a return on equity of 32.27%. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. As a group, research analysts predict that Light & Wonder, Inc. will post 3.89 EPS for the current year.

About Light & Wonder

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.