Optimist Retirement Group LLC Purchases New Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Optimist Retirement Group LLC acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNW) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,372 shares of the company’s stock, valued at approximately $205,000.

Several other large investors also recently bought and sold shares of LNW. Vanguard Group Inc. grew its stake in shares of Light & Wonder by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock valued at $733,584,000 after buying an additional 100,527 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Light & Wonder by 321.7% in the 1st quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company’s stock worth $136,152,000 after purchasing an additional 1,199,213 shares during the last quarter. Burgundy Asset Management Ltd. lifted its holdings in 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 purchasing an additional 28,358 shares during the last quarter. Ninety One UK Ltd lifted its holdings in shares of Light & Wonder by 56.7% during the first quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock worth $101,728,000 after buying an additional 425,202 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Light & Wonder during the fourth quarter worth approximately $91,683,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LNW. Macquarie increased their price objective on Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, June 16th. Wall Street Zen cut Light & Wonder from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Benchmark reduced their target price on shares of Light & Wonder from $130.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Truist Financial raised their price target on Light & Wonder from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group set a $116.00 target price on Light & Wonder in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Light & Wonder presently has a consensus rating of “Moderate Buy” and an average target price of $108.36.

Light & Wonder Trading Down 0.6%

Shares of NASDAQ LNW opened at $97.63 on Friday. The business’s 50 day moving average is $90.36 and its two-hundred day moving average is $91.35. The company has a debt-to-equity ratio of 6.26, a current ratio of 1.57 and a quick ratio of 1.35. Light & Wonder, Inc. has a 1-year low of $75.46 and a 1-year high of $115.00. The stock has a market capitalization of $8.24 billion, a P/E ratio of 26.03, a PEG ratio of 0.58 and a beta of 1.23.

Light & Wonder (NASDAQ:LNW) last announced its quarterly 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 firm had revenue of $774.00 million during the quarter, compared to analysts’ expectations of $802.93 million. Light & Wonder had a net margin of 10.45% and a return on equity of 68.41%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. As a group, research analysts expect that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Light & Wonder 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.