Light & Wonder, Inc. (NASDAQ:LNW) Shares Bought by XTX Topco Ltd

XTX Topco Ltd increased its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 331.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 14,226 shares of the company’s stock after acquiring an additional 10,926 shares during the quarter. XTX Topco Ltd’s holdings in Light & Wonder were worth $1,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in Light & Wonder during the 4th quarter worth approximately $124,523,000. Ninety One UK Ltd increased its stake in shares of Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after buying an additional 511,081 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Light & Wonder by 95.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock valued at $73,601,000 after acquiring an additional 438,443 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Light & Wonder by 102.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after acquiring an additional 388,781 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Light & Wonder during the 2nd quarter worth $15,539,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Benchmark restated a “buy” rating and issued a $114.00 target price on shares of Light & Wonder in a research note on Thursday, August 8th. Stifel Nicolaus increased their target price on Light & Wonder from $98.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Macquarie upped their price target on Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Maxim Group began coverage on shares of Light & Wonder in a report on Monday, August 26th. They issued a “buy” rating and a $144.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $108.20.

Light & Wonder Price Performance

Shares of LNW opened at $112.48 on Friday. Light & Wonder, Inc. has a 12 month low of $67.71 and a 12 month high of $115.00. 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 stock has a fifty day moving average price of $105.84 and a 200 day moving average price of $100.55. The company has a market cap of $9.98 billion, a P/E ratio of 46.67, a PEG ratio of 0.46 and a beta of 1.77.

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