Caitong International Asset Management Co. Ltd Grows Position in Light & Wonder, Inc. (NASDAQ:LNW)

Caitong International Asset Management Co. Ltd raised its position in Light & Wonder, Inc. (NASDAQ:LNW) by 2,422.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,220 shares of the company’s stock after acquiring an additional 2,132 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Light & Wonder were worth $192,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Centaurus Financial Inc. lifted its holdings in Light & Wonder by 3.3% in the fourth quarter. Centaurus Financial Inc. now owns 3,350 shares of the company’s stock valued at $289,000 after acquiring an additional 108 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Light & Wonder by 0.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock worth $1,907,000 after buying an additional 133 shares during the period. Simon Quick Advisors LLC raised its stake in shares of Light & Wonder by 2.9% in the first quarter. Simon Quick Advisors LLC now owns 4,752 shares of the company’s stock worth $412,000 after buying an additional 136 shares during the period. KBC Group NV raised its stake in shares of Light & Wonder by 3.8% in the first quarter. KBC Group NV now owns 3,746 shares of the company’s stock worth $324,000 after buying an additional 137 shares during the period. Finally, US Bancorp DE raised its stake in shares of Light & Wonder by 18.7% in the first quarter. US Bancorp DE now owns 1,164 shares of the company’s stock worth $101,000 after buying an additional 183 shares during the period. Institutional investors own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. downgraded Light & Wonder from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $108.00 to $95.00 in a research note on Thursday, August 7th. Jefferies Financial Group set a $116.00 price objective on Light & Wonder in a research note on Wednesday, June 25th. Stifel Nicolaus raised their price objective on Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Mizuho raised their price objective on Light & Wonder from $80.00 to $84.00 and gave the stock an “underperform” rating in a research note on Thursday, May 8th. Finally, Truist Financial raised their price objective on Light & Wonder from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Light & Wonder has an average rating of “Moderate Buy” and an average price target of $108.10.

Light & Wonder Price Performance

Shares of LNW stock opened at $88.52 on Thursday. Light & Wonder, Inc. has a twelve month low of $69.56 and a twelve month high of $115.00. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 0.52 and a beta of 1.21. The stock has a fifty day simple moving average of $92.65 and a two-hundred day simple moving average of $91.95. The company has a current ratio of 1.77, a quick ratio of 1.51 and a debt-to-equity ratio of 6.86.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.14. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%. The business had revenue of $809.00 million during the quarter, compared to analysts’ expectations of $851.29 million. During the same period in the prior year, the business earned $0.90 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts predict that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jamie Odell purchased 8,275 shares of Light & Wonder stock in a transaction dated Thursday, August 7th. The stock was purchased at an average cost of $78.81 per share, with a total value of $652,152.75. Following the transaction, the director owned 8,275 shares in the company, valued at approximately $652,152.75. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hamish Mclennan purchased 1,380 shares of Light & Wonder stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $87.61 per share, with a total value of $120,901.80. Following the completion of the transaction, the director owned 6,380 shares in the company, valued at approximately $558,951.80. This represents a 27.60% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 17,756 shares of company stock worth $1,421,688. 2.20% of the stock is currently owned by company insiders.

Light & Wonder Company Profile

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.