Smith Group Asset Management LLC Buys 21,036 Shares of Light & Wonder, Inc. $LNW

Smith Group Asset Management LLC lifted its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 15.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,714 shares of the company’s stock after purchasing an additional 21,036 shares during the quarter. Smith Group Asset Management LLC’s holdings in Light & Wonder were worth $14,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Light & Wonder by 0.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock valued at $1,907,000 after purchasing an additional 133 shares during the last quarter. KBC Group NV grew its holdings in Light & Wonder by 3.8% during the 1st quarter. KBC Group NV now owns 3,746 shares of the company’s stock worth $324,000 after acquiring an additional 137 shares during the last quarter. IFP Advisors Inc grew its holdings in Light & Wonder by 198.9% during the 2nd quarter. IFP Advisors Inc now owns 269 shares of the company’s stock worth $26,000 after acquiring an additional 179 shares during the last quarter. US Bancorp DE grew its holdings in Light & Wonder by 18.7% during the 1st 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. Finally, Louisiana State Employees Retirement System grew its holdings in Light & Wonder by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the company’s stock worth $2,139,000 after acquiring an additional 200 shares during the last quarter. 88.08% of the stock is owned by institutional investors.

Light & Wonder Trading Down 0.7%

NASDAQ:LNW opened at $75.85 on Friday. The firm’s fifty day moving average is $85.66 and its 200-day moving average is $87.71. 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, Inc. has a 52 week low of $69.56 and a 52 week high of $113.94. The firm has a market cap of $6.37 billion, a P/E ratio of 19.15, a P/E/G ratio of 0.50 and a beta of 1.45.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.14. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The company had revenue of $809.00 million for the quarter, compared to analyst estimates of $851.29 million. During the same period in the prior year, the firm posted $0.90 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Equities analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Insider Activity at Light & Wonder

In related news, Director Jamie Odell bought 8,275 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average price of $78.81 per share, for a total transaction of $652,152.75. Following the transaction, the director directly owned 8,275 shares of the company’s stock, valued at approximately $652,152.75. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy Throsby bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average price of $89.37 per share, for a total transaction of $1,787,400.00. Following the transaction, the director directly owned 42,082 shares in the company, valued at $3,760,868.34. This trade represents a 90.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 37,756 shares of company stock worth $3,209,088 over the last quarter. 2.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LNW. Wall Street Zen lowered shares of Light & Wonder from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Truist Financial boosted their target price on shares of Light & Wonder from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Zacks Research lowered shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Light & Wonder in a report on Wednesday, October 8th. Finally, Macquarie reduced their target price on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $103.86.

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.