State of Alaska Department of Revenue Purchases 280 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

State of Alaska Department of Revenue grew its position in Light & Wonder, Inc. (NASDAQ:LNW) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,345 shares of the company’s stock after purchasing an additional 280 shares during the period. State of Alaska Department of Revenue’s holdings in Light & Wonder were worth $895,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Light & Wonder by 2.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock valued at $387,000 after purchasing an additional 108 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Light & Wonder by 3.3% in the fourth quarter. Centaurus Financial Inc. now owns 3,350 shares of the company’s stock valued at $289,000 after purchasing an additional 108 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Light & Wonder by 0.7% in the fourth quarter. Xponance Inc. now owns 17,769 shares of the company’s stock valued at $1,535,000 after purchasing an additional 120 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings 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 valued at $412,000 after purchasing an additional 136 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Light & Wonder by 0.5% in the fourth quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock valued at $3,477,000 after purchasing an additional 200 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Price Performance

NASDAQ:LNW opened at $95.65 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.57 and a debt-to-equity ratio of 6.26. The stock’s 50 day moving average price is $86.24 and its two-hundred day moving average price is $90.21. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 0.41 and a beta of 1.23. Light & Wonder, Inc. has a 12-month low of $75.46 and a 12-month high of $115.00.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). The business had revenue of $774.00 million during the quarter, compared to the consensus estimate of $802.93 million. Light & Wonder had a net margin of 10.45% and a return on equity of 68.41%. Light & Wonder’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. On average, analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LNW shares. Jefferies Financial Group set a $116.00 price target on Light & Wonder in a report on Wednesday. Mizuho upped their target price on Light & Wonder from $80.00 to $84.00 and gave the stock an “underperform” rating in a report on Thursday, May 8th. Macquarie upped their target price on Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, June 16th. Benchmark dropped their target price on Light & Wonder from $130.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Finally, Stifel Nicolaus upped their target price on Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.55.

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.