Light & Wonder, Inc. (NASDAQ:LNW) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System raised its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,099 shares of the company’s stock after buying an additional 500 shares during the period. State of Michigan Retirement System’s holdings in Light & Wonder were worth $2,256,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Perpetual Ltd increased its stake in Light & Wonder by 1.9% during the 1st quarter. Perpetual Ltd now owns 268,356 shares of the company’s stock valued at $27,804,000 after buying an additional 5,100 shares during the period. Rise Advisors LLC acquired a new position in Light & Wonder during the 1st quarter valued at about $38,000. Kapitalo Investimentos Ltda acquired a new position in shares of Light & Wonder in the 4th quarter worth approximately $308,000. Goldman Sachs Group Inc. grew 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 worth $73,601,000 after purchasing an additional 438,443 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Light & Wonder in the 4th quarter worth approximately $807,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Stock Performance

LNW stock opened at $104.14 on Thursday. The company has a debt-to-equity ratio of 4.61, a quick ratio of 1.72 and a current ratio of 1.98. The stock has a market cap of $9.39 billion, a P/E ratio of 43.21 and a beta of 1.79. The firm has a 50 day simple moving average of $96.23 and a 200 day simple moving average of $92.49. Light & Wonder, Inc. has a 52 week low of $62.16 and a 52 week high of $108.90.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.70 by $0.23. The business had revenue of $756.00 million during the quarter, compared to analysts’ expectations of $732.01 million. Light & Wonder had a net margin of 7.43% and a return on equity of 32.27%. Research analysts anticipate that Light & Wonder, Inc. will post 4.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LNW. Redburn Atlantic cut shares of Light & Wonder from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $105.00 to $110.00 in a research note on Monday, March 11th. Susquehanna cut shares of Light & Wonder from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $111.00 to $95.00 in a research note on Friday, May 10th. Mizuho lowered their price objective on shares of Light & Wonder from $83.00 to $79.00 and set an “underperform” rating on the stock in a research note on Thursday, May 9th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $103.00 price objective (up previously from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Light & Wonder has a consensus rating of “Hold” and a consensus price target of $95.08.

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.