Light & Wonder, Inc. (NASDAQ:LNW) Shares Purchased by Scientech Research LLC

Scientech Research LLC raised its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 460.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,202 shares of the company’s stock after buying an additional 12,491 shares during the period. Scientech Research LLC’s holdings in Light & Wonder were worth $1,594,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings in Light & Wonder by 121.6% in the second quarter. SG Americas Securities LLC now owns 14,263 shares of the company’s stock valued at $1,496,000 after acquiring an additional 7,828 shares in the last quarter. M&G Plc acquired a new stake in Light & Wonder in the first quarter valued at $10,570,000. Intech Investment Management LLC acquired a new stake in Light & Wonder in the second quarter valued at $1,620,000. Cibc World Markets Corp acquired a new stake in Light & Wonder in the fourth quarter valued at $5,748,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in Light & Wonder by 1,626.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,807 shares of the company’s stock valued at $723,000 after purchasing an additional 8,297 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Stock Performance

LNW stock opened at $93.10 on Friday. The company has a market capitalization of $8.26 billion, a P/E ratio of 38.63, a PEG ratio of 0.38 and a beta of 1.77. The company has a 50-day simple moving average of $105.44 and a 200 day simple moving average of $100.61. Light & Wonder, Inc. has a fifty-two week low of $67.71 and a fifty-two week high of $115.00. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The business had revenue of $818.00 million during the quarter, compared to analyst estimates of $798.09 million. During the same period in the previous year, the company posted $1.02 earnings per share. Light & Wonder’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that Light & Wonder, Inc. will post 4.44 earnings per share for the current fiscal year.

Light & Wonder announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have weighed in on LNW. Benchmark reiterated a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Macquarie lowered their price target on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Truist Financial upped their price target on shares of Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $106.60.

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.