103,624 Shares in Light & Wonder, Inc. (NASDAQ:LNW) Purchased by M&G Plc

M&G Plc acquired a new position in Light & Wonder, Inc. (NASDAQ:LNW) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 103,624 shares of the company’s stock, valued at approximately $10,570,000. M&G Plc owned 0.11% of Light & Wonder as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LNW. Vanguard Group Inc. lifted its holdings in Light & Wonder by 0.5% in the third quarter. Vanguard Group Inc. now owns 9,152,926 shares of the company’s stock worth $652,878,000 after purchasing an additional 46,751 shares during the period. Raymond James & Associates acquired a new stake in Light & Wonder in the fourth quarter worth about $620,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Light & Wonder in the fourth quarter worth about $361,000. XY Capital Ltd acquired a new stake in Light & Wonder in the fourth quarter worth about $540,000. Finally, Moody Aldrich Partners LLC acquired a new stake in Light & Wonder in the fourth quarter worth about $6,848,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LNW. Mizuho dropped their price target on shares of Light & Wonder from $83.00 to $79.00 and set an “underperform” rating on the stock in a research report on Thursday, May 9th. Susquehanna cut shares of Light & Wonder from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $111.00 to $95.00 in a research report on Friday, May 10th. Finally, Truist Financial boosted their price objective on Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Light & Wonder has a consensus rating of “Hold” and a consensus target price of $95.50.

Light & Wonder Stock Down 1.3 %

Shares of LNW traded down $1.38 during trading hours on Friday, reaching $101.55. The company’s stock had a trading volume of 476,107 shares, compared to its average volume of 1,316,721. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 42.14, a P/E/G ratio of 0.42 and a beta of 1.79. Light & Wonder, Inc. has a 1-year low of $67.71 and a 1-year high of $108.90. The company has a quick ratio of 1.72, a current ratio of 1.98 and a debt-to-equity ratio of 4.61. The company has a 50 day moving average of $99.15 and a two-hundred day moving average of $94.26.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Wednesday, May 8th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.23. The company had revenue of $756.00 million for the quarter, compared to the consensus estimate of $732.01 million. Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. As a group, research analysts predict that Light & Wonder, Inc. will post 4.21 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.