Light & Wonder, Inc. (NASDAQ:LNW) Shares Acquired by M&G Plc

M&G Plc lifted its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 12.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 116,484 shares of the company’s stock after buying an additional 12,860 shares during the quarter. M&G Plc owned approximately 0.13% of Light & Wonder worth $12,231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of Light & Wonder during the 1st quarter worth about $38,000. Fidelis Capital Partners LLC purchased a new stake in shares of Light & Wonder during the 1st quarter worth about $38,000. GAMMA Investing LLC boosted its holdings in Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after acquiring an additional 152 shares during the period. USA Financial Formulas purchased a new position in Light & Wonder in the 4th quarter worth approximately $62,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Light & Wonder in the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

LNW has been the subject of a number of analyst reports. Mizuho decreased their price target on Light & Wonder from $83.00 to $79.00 and set an “underperform” rating for the company in a report on Thursday, May 9th. Stifel Nicolaus upped their price target on Light & Wonder from $98.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Susquehanna cut Light & Wonder from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $111.00 to $95.00 in a report on Friday, May 10th. Benchmark restated a “buy” rating and issued a $114.00 price target on shares of Light & Wonder in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Light & Wonder has an average rating of “Hold” and an average price target of $102.73.

Light & Wonder Stock Performance

Shares of LNW opened at $102.63 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 0.43 and a beta of 1.79. Light & Wonder, Inc. has a 52-week low of $67.71 and a 52-week high of $109.30. The business’s 50 day moving average is $101.97 and its two-hundred day moving average is $97.07.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.14). The firm had revenue of $818.00 million for the quarter, compared to analyst estimates of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 earnings per share. Analysts forecast that Light & Wonder, Inc. will post 4.36 EPS for the current fiscal year.

About Light & Wonder

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.