Rise Advisors LLC Purchases Shares of 370 Light & Wonder, Inc. (NASDAQ:LNW)

Rise Advisors LLC purchased a new stake in Light & Wonder, Inc. (NASDAQ:LNW) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 370 shares of the company’s stock, valued at approximately $38,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Light & Wonder by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,152,926 shares of the company’s stock valued at $652,878,000 after acquiring an additional 46,751 shares during the period. Morgan Stanley boosted its stake in shares of Light & Wonder by 0.4% in the 3rd quarter. Morgan Stanley now owns 3,251,704 shares of the company’s stock valued at $231,944,000 after purchasing an additional 14,377 shares during the last quarter. Norges Bank bought a new stake in shares of Light & Wonder in the 4th quarter valued at $124,523,000. Burgundy Asset Management Ltd. boosted its stake in shares of Light & Wonder by 3.8% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,299,670 shares of the company’s stock valued at $106,716,000 after purchasing an additional 47,940 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Light & Wonder by 95.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock valued at $73,601,000 after purchasing an additional 438,443 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on LNW. JPMorgan Chase & Co. increased their target price on shares of Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Macquarie increased their target price on shares of Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Redburn Atlantic lowered shares of Light & Wonder from a “buy” rating to a “neutral” rating and increased their target price for the stock from $105.00 to $110.00 in a research note on Monday, March 11th. Truist Financial upped their price objective on shares of Light & Wonder from $90.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Stifel Nicolaus restated a “hold” rating and set a $103.00 price objective (up previously from $97.00) on shares of Light & Wonder in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.08.

Light & Wonder Price Performance

LNW stock opened at $99.38 on Friday. The firm has a 50 day moving average of $93.84 and a 200-day moving average of $91.18. The company has a current ratio of 1.98, a quick ratio of 1.72 and a debt-to-equity ratio of 4.61. Light & Wonder, Inc. has a 12 month low of $62.16 and a 12 month high of $108.90. The firm has a market capitalization of $8.96 billion, a P/E ratio of 41.24 and a beta of 1.75.

Light & Wonder (NASDAQ:LNW) last announced its earnings results on Wednesday, May 8th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.23. Light & Wonder had a net margin of 7.43% and a return on equity of 32.27%. The business had revenue of $756.00 million during the quarter, compared to analyst estimates of $732.01 million. As a group, sell-side analysts predict that Light & Wonder, Inc. will post 4.2 earnings per share for the current fiscal year.

Light & Wonder Profile

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.