State of Michigan Retirement System Has $1.95 Million Stock Holdings in Light & Wonder, Inc. $LNW

State of Michigan Retirement System trimmed its position in Light & Wonder, Inc. (NASDAQ:LNW) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 20,299 shares of the company’s stock after selling 800 shares during the quarter. State of Michigan Retirement System’s holdings in Light & Wonder were worth $1,954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LNW. Burgundy Asset Management Ltd. lifted its stake in shares of Light & Wonder by 6.9% during the first quarter. Burgundy Asset Management Ltd. now owns 1,574,589 shares of the company’s stock valued at $136,375,000 after acquiring an additional 102,051 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Light & Wonder by 0.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 901,778 shares of the company’s stock worth $78,104,000 after purchasing an additional 3,472 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Light & Wonder by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 733,888 shares of the company’s stock valued at $63,562,000 after purchasing an additional 7,544 shares during the period. ING Groep NV lifted its position in Light & Wonder by 1.9% during the 1st quarter. ING Groep NV now owns 582,926 shares of the company’s stock valued at $50,487,000 after purchasing an additional 10,926 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Light & Wonder by 9.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 416,087 shares of the company’s stock valued at $40,053,000 after purchasing an additional 36,887 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Up 8.5%

LNW opened at $79.70 on Friday. The firm’s fifty day moving average is $82.29 and its two-hundred day moving average is $87.40. The firm has a market cap of $6.69 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 0.48 and a beta of 1.42. Light & Wonder, Inc. has a twelve month low of $69.56 and a twelve month high of $113.94. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.51 and a current ratio of 1.77.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Wednesday, November 5th. The company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.36. The business had revenue of $841.00 million during the quarter, compared to analysts’ expectations of $866.97 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. Equities research analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Insiders Place Their Bets

In other Light & Wonder news, Director Timothy Throsby purchased 20,000 shares of the stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $89.37 per share, for a total transaction of $1,787,400.00. Following the completion of the acquisition, the director directly owned 42,082 shares of the company’s stock, valued at $3,760,868.34. The trade was a 90.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Antonia Korsanos purchased 8,065 shares of the company’s stock in a transaction dated Sunday, August 10th. The shares were acquired at an average cost of $80.05 per share, for a total transaction 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 ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 29,481 shares of company stock worth $2,556,936 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LNW shares. Zacks Research downgraded shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. lowered shares of Light & Wonder from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $108.00 to $95.00 in a report on Thursday, August 7th. Macquarie cut their price target on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Stifel Nicolaus reduced their price target on Light & Wonder from $95.00 to $83.00 and set a “hold” rating on the stock in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Light & Wonder in a report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $102.14.

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.