Light & Wonder, Inc. (NASDAQ:LNW) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC boosted its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 463.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,738 shares of the company’s stock after acquiring an additional 10,478 shares during the period. Penserra Capital Management LLC’s holdings in Light & Wonder were worth $1,102,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LNW. Vanguard Group Inc. increased its stake in Light & Wonder by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock valued at $733,584,000 after purchasing an additional 100,527 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Light & Wonder by 321.7% during the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company’s stock worth $136,152,000 after acquiring an additional 1,199,213 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in shares of Light & Wonder by 2.0% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock worth $127,198,000 after acquiring an additional 28,358 shares during the last quarter. Norges Bank bought a new position in shares of Light & Wonder during the fourth quarter worth about $91,683,000. Finally, Deutsche Bank AG grew its position in shares of Light & Wonder by 15.6% during the fourth quarter. Deutsche Bank AG now owns 887,492 shares of the company’s stock worth $76,662,000 after acquiring an additional 119,616 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Price Performance

Shares of NASDAQ LNW opened at $100.01 on Wednesday. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve 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. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 0.43 and a beta of 1.23. The firm has a 50-day moving average of $88.77 and a two-hundred day moving average of $90.66.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.23). Light & Wonder had a net margin of 10.45% and a return on equity of 68.41%. The firm had revenue of $774.00 million for the quarter, compared to analysts’ expectations of $802.93 million. During the same period in the prior year, the company posted $0.88 earnings per share. Light & Wonder’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LNW has been the subject of several recent research reports. Mizuho upped their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, May 8th. Macquarie upped their price target on shares of Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, June 16th. Truist Financial lowered their price target on shares of Light & Wonder from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Light & Wonder from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Stifel Nicolaus upped their price objective on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Light & Wonder presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.55.

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.