18,000 Shares in Light & Wonder, Inc. $LNW Bought by Advocate Group LLC

Advocate Group LLC bought a new position in Light & Wonder, Inc. (NASDAQ:LNW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,000 shares of the company’s stock, valued at approximately $1,733,000.

Several other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Light & Wonder by 0.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock worth $1,907,000 after buying an additional 133 shares during the period. Simon Quick Advisors LLC increased its stake in shares of Light & Wonder by 2.9% in the first quarter. Simon Quick Advisors LLC now owns 4,752 shares of the company’s stock worth $412,000 after buying an additional 136 shares during the period. KBC Group NV increased its stake in shares of Light & Wonder by 3.8% in the first quarter. KBC Group NV now owns 3,746 shares of the company’s stock worth $324,000 after buying an additional 137 shares during the period. IFP Advisors Inc increased its stake in shares of Light & Wonder by 198.9% in the second quarter. IFP Advisors Inc now owns 269 shares of the company’s stock worth $26,000 after buying an additional 179 shares during the period. Finally, US Bancorp DE increased its stake in shares of Light & Wonder by 18.7% in the first quarter. US Bancorp DE now owns 1,164 shares of the company’s stock worth $101,000 after buying an additional 183 shares during the period. 88.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Antonia Korsanos acquired 8,065 shares of the business’s stock in a transaction that occurred on Sunday, August 10th. The shares were bought at an average cost of $80.05 per share, with a total value of $645,603.25. Following the transaction, the director owned 22,815 shares of the company’s stock, valued at $1,826,340.75. This trade represents a 54.68% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy Throsby acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $89.37 per share, for a total transaction of $1,787,400.00. Following the completion of the transaction, the director directly owned 42,082 shares in the company, valued at $3,760,868.34. The trade was a 90.57% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 37,756 shares of company stock valued at $3,209,088. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LNW. Zacks Research lowered shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Macquarie decreased their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Benchmark decreased their price objective on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 8th. JPMorgan Chase & Co. lowered shares of Light & Wonder from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $108.00 to $95.00 in a report on Thursday, August 7th. Finally, Jefferies Financial Group set a $116.00 price objective on shares of Light & Wonder in a report on Wednesday, June 25th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Light & Wonder currently has an average rating of “Hold” and a consensus price target of $103.86.

Light & Wonder Stock Down 0.9%

NASDAQ:LNW opened at $79.35 on Friday. The firm’s 50-day moving average price is $87.39 and its 200-day moving average price is $88.36. The company has a market capitalization of $6.66 billion, a PE ratio of 20.04, a P/E/G ratio of 0.48 and a beta of 1.45. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. Light & Wonder, Inc. has a 1-year low of $69.56 and a 1-year high of $113.94.

Light & Wonder (NASDAQ:LNW) last released its earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. The firm had revenue of $809.00 million for the quarter, compared to the consensus estimate of $851.29 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. On average, equities analysts predict that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal 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.