Neo Ivy Capital Management Acquires Shares of 4,161 Light & Wonder, Inc. $LNW

Neo Ivy Capital Management bought a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,161 shares of the company’s stock, valued at approximately $401,000.

Several other hedge funds have also recently modified their holdings of the stock. IFP Advisors Inc lifted its stake in Light & Wonder by 198.9% in the 2nd quarter. IFP Advisors Inc now owns 269 shares of the company’s stock valued at $26,000 after buying an additional 179 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Light & Wonder by 118.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 437 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Light & Wonder by 41.8% during the second quarter. AlphaQuest LLC now owns 604 shares of the company’s stock valued at $58,000 after acquiring an additional 178 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Light & Wonder in the first quarter valued at approximately $71,000. Finally, US Bancorp DE boosted 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 acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Stock Up 1.8%

Shares of NASDAQ:LNW opened at $91.14 on Friday. Light & Wonder, Inc. has a 52-week low of $69.56 and a 52-week high of $113.94. The stock has a market cap of $7.43 billion, a P/E ratio of 23.01, a PEG ratio of 0.48 and a beta of 1.42. The business has a fifty day moving average of $82.38 and a two-hundred day moving average of $87.68. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.45 by $0.36. The business had revenue of $841.00 million for the quarter, compared to analyst estimates of $866.97 million. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%.The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, research analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Wall Street Analyst Weigh In

LNW has been the subject of several recent research reports. Benchmark reduced their price objective on Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Macquarie dropped their target price 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Light & Wonder in a research report on Friday, October 31st. Zacks Research downgraded shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. lowered shares of Light & Wonder from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $108.00 to $95.00 in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.