Arizona State Retirement System bought a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,697 shares of the company's stock, valued at approximately $1,059,000.
Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new position in Light & Wonder during the third quarter worth about $23,773,000. Royce & Associates LP acquired a new stake in Light & Wonder in the 3rd quarter valued at approximately $10,137,000. Retirement Systems of Alabama acquired a new stake in Light & Wonder in the 3rd quarter valued at approximately $8,018,000. The Manufacturers Life Insurance Company acquired a new stake in Light & Wonder in the 3rd quarter valued at approximately $4,830,000. Finally, Russell Investments Group Ltd. acquired a new stake in Light & Wonder in the 3rd quarter valued at approximately $3,790,000. Institutional investors own 96.42% of the company's stock.
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Analysts Set New Price Targets
A number of brokerages recently issued reports on LNW. Credit Suisse Group lifted their target price on Light & Wonder from $47.00 to $48.00 and gave the company an "underperform" rating in a research report on Thursday, November 10th. Macquarie started coverage on Light & Wonder in a research report on Friday, November 11th. They set an "outperform" rating and a $65.00 price target on the stock. Craig Hallum lowered their price target on Light & Wonder to $85.00 in a research report on Tuesday, November 15th. Susquehanna boosted their price target on Light & Wonder from $55.00 to $61.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 15th. Finally, Truist Financial lowered their price target on Light & Wonder from $75.00 to $70.00 in a research report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $61.63.
Light & Wonder Stock Performance
Shares of NASDAQ LNW opened at $67.93 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.38 and a debt-to-equity ratio of 3.14. Light & Wonder, Inc. has a 12 month low of $40.10 and a 12 month high of $68.84. The stock has a 50 day moving average of $62.15 and a 200-day moving average of $55.51. The company has a market capitalization of $6.36 billion, a P/E ratio of 1.73 and a beta of 1.80.
Light & Wonder (NASDAQ:LNW – Get Rating) last issued its earnings results on Wednesday, November 9th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.19). The business had revenue of $648.00 million for the quarter, compared to the consensus estimate of $629.73 million. Light & Wonder had a negative return on equity of 5.63% and a net margin of 155.19%. As a group, equities research analysts predict that Light & Wonder, Inc. will post -1.83 EPS for the current year.
About Light & Wonder
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Light & Wonder, Inc engages in the development of technology-based products and services and associated content. It operates through the following business segments: Gaming, SciPlay, and iGaming. The Gaming segment designs, develops, manufactures, markets, and distributes a comprehensive portfolio of gaming products and services.
Further Reading
- Get a free copy of the StockNews.com research report on Light & Wonder (LNW)
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