Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Perpetual Ltd

Perpetual Ltd trimmed its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 35.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,427 shares of the company’s stock after selling 91,584 shares during the quarter. Perpetual Ltd owned 0.20% of Light & Wonder worth $14,587,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LNW. Macquarie upped their target price on Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, June 16th. Stifel Nicolaus upped their target price on Light & Wonder from $84.00 to $95.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. Benchmark decreased 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. Truist Financial decreased their target price on Light & Wonder from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group set a $116.00 target price on Light & Wonder in a research report on Wednesday. One 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 company. According to data from MarketBeat, Light & Wonder currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.55.

Light & Wonder Stock Performance

Shares of LNW stock opened at $95.82 on Friday. The company has a market cap of $8.09 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 0.42 and a beta of 1.23. The stock has a 50 day simple moving average of $86.56 and a 200-day simple moving average of $90.23. Light & Wonder, Inc. has a 12-month low of $75.46 and a 12-month high of $115.00. The company has a current ratio of 1.57, a quick ratio of 1.35 and a debt-to-equity ratio of 6.26.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 68.41% and a net margin of 10.45%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share. On average, equities analysts forecast that Light & Wonder, Inc. will post 4.3 EPS for the current year.

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.