Maryland State Retirement & Pension System Invests $737,000 in Light & Wonder, Inc. (NASDAQ:LNW)

Maryland State Retirement & Pension System acquired a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,030 shares of the company’s stock, valued at approximately $737,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Light & Wonder in the 4th quarter worth $124,523,000. Burgundy Asset Management Ltd. raised its position in Light & Wonder by 1.2% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock worth $134,307,000 after purchasing an additional 15,902 shares during the period. Ninety One UK Ltd raised its position in Light & Wonder by 128.0% in the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after purchasing an additional 511,081 shares during the period. Goldman Sachs Group Inc. raised its position in 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 period. Finally, Price T Rowe Associates Inc. MD raised its position in Light & Wonder by 102.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock worth $78,320,000 after purchasing an additional 388,781 shares during the period. 88.08% of the stock is owned by institutional investors.

Light & Wonder Price Performance

Shares of NASDAQ LNW opened at $109.82 on Monday. Light & Wonder, Inc. has a 1 year low of $67.71 and a 1 year high of $110.57. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58. The company’s 50-day moving average is $104.53 and its 200 day moving average is $99.17. The stock has a market capitalization of $9.90 billion, a P/E ratio of 45.57, a P/E/G ratio of 0.46 and a beta of 1.79.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.14). Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The company had revenue of $818.00 million for the quarter, compared to analysts’ expectations of $798.09 million. During the same quarter in the prior year, the firm earned $1.02 EPS. Light & Wonder’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Light & Wonder, Inc. will post 4.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Susquehanna cut shares of Light & Wonder from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $111.00 to $95.00 in a research report on Friday, May 10th. Mizuho decreased 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 report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price objective on shares of Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $106.36.

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.