2,156 Shares in Light & Wonder, Inc. $LNW Acquired by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC bought a new position in Light & Wonder, Inc. (NASDAQ:LNW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,156 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc raised its holdings in shares of Light & Wonder by 198.9% in the 2nd quarter. IFP Advisors Inc now owns 269 shares of the company’s stock worth $26,000 after purchasing an additional 179 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Light & Wonder by 3,861.1% in the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock worth $63,000 after purchasing an additional 695 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Light & Wonder in the 1st quarter worth approximately $71,000. US Bancorp DE raised its holdings in shares of Light & Wonder by 18.7% in the 1st quarter. US Bancorp DE now owns 1,164 shares of the company’s stock worth $101,000 after purchasing an additional 183 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Light & Wonder by 217.8% in the 1st quarter. GAMMA Investing LLC now owns 1,265 shares of the company’s stock worth $110,000 after purchasing an additional 867 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Stock Performance

Shares of LNW opened at $76.14 on Friday. The company’s 50 day moving average price is $86.59 and its 200 day moving average price is $87.92. Light & Wonder, Inc. has a 52 week low of $69.56 and a 52 week high of $113.94. The company has a market capitalization of $6.39 billion, a PE ratio of 19.23, a PEG ratio of 0.46 and a beta of 1.45. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.51 and a current ratio of 1.77.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.14. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The firm had revenue of $809.00 million for the quarter, compared to the consensus estimate of $851.29 million. During the same period in the previous year, the firm posted $0.90 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. Research analysts expect that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Analysts Set New Price Targets

LNW has been the topic of several analyst reports. Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a research report on Wednesday, June 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Light & Wonder in a research report on Wednesday, October 8th. Truist Financial lifted their target price on shares of Light & Wonder from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. downgraded shares of Light & Wonder from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $108.00 to $95.00 in a research report on Thursday, August 7th. Finally, Macquarie dropped their target price on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $103.86.

Insider Activity at Light & Wonder

In other Light & Wonder news, Director Timothy Throsby bought 20,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $89.37 per share, with a total value of $1,787,400.00. Following the completion of the transaction, the director directly owned 42,082 shares of the company’s stock, valued at approximately $3,760,868.34. The trade was a 90.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Antonia Korsanos bought 8,065 shares of the firm’s stock in a transaction on Sunday, August 10th. The stock was acquired at an average cost of $80.05 per share, with a total value of $645,603.25. Following the completion of the transaction, the director directly owned 22,815 shares of the company’s stock, valued at approximately $1,826,340.75. This represents a 54.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 37,756 shares of company stock valued at $3,209,088. Company insiders own 2.20% of the company’s stock.

Light & Wonder 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.