Exchange Traded Concepts LLC reduced its stake in Light & Wonder, Inc. (NASDAQ:LNW – Free Report) by 8.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,048 shares of the company’s stock after selling 1,810 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Light & Wonder were worth $1,736,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Light & Wonder by 63.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,191 shares of the company’s stock valued at $363,000 after purchasing an additional 1,632 shares during the last quarter. Simon Quick Advisors LLC raised its position in shares of Light & Wonder by 2.9% in the 1st 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 during the last quarter. CX Institutional purchased a new position in shares of Light & Wonder in the 1st quarter valued at approximately $87,000. SG Americas Securities LLC raised its position in Light & Wonder by 89.5% during the 1st quarter. SG Americas Securities LLC now owns 8,047 shares of the company’s stock worth $697,000 after buying an additional 3,800 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Light & Wonder by 217.8% during the 1st quarter. GAMMA Investing LLC now owns 1,265 shares of the company’s stock worth $110,000 after buying an additional 867 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have issued reports on LNW shares. Truist Financial reduced their price target on shares of Light & Wonder from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus raised their price target on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Mizuho raised their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Light & Wonder currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.
Light & Wonder Price Performance
NASDAQ:LNW opened at $86.25 on Wednesday. The company has a debt-to-equity ratio of 6.26, a current ratio of 1.57 and a quick ratio of 1.35. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 0.37 and a beta of 1.23. The company has a 50 day moving average price of $85.06 and a 200-day moving average price of $90.63. Light & Wonder, Inc. has a 1-year low of $75.46 and a 1-year high of $115.00.
Light & Wonder (NASDAQ:LNW – Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.23). Light & Wonder had a net margin of 10.45% and a return on equity of 68.41%. The firm had revenue of $774.00 million for the quarter, compared to analysts’ expectations of $802.93 million. During the same period last year, the firm earned $0.88 earnings per share. Light & Wonder’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts forecast that Light & Wonder, Inc. will post 4.3 EPS for the current year.
Light & Wonder 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.
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