Light & Wonder, Inc. $LNW Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 3.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,622,048 shares of the company’s stock after selling 56,940 shares during the quarter. Geode Capital Management LLC’s holdings in Light & Wonder were worth $156,162,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LNW. IFP Advisors Inc raised its stake in shares of Light & Wonder by 198.9% in the 2nd quarter. IFP Advisors Inc now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 179 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Light & Wonder by 118.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 437 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the last quarter. AlphaQuest LLC raised its position in Light & Wonder by 41.8% in the second quarter. AlphaQuest LLC now owns 604 shares of the company’s stock valued at $58,000 after purchasing an additional 178 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Light & Wonder in the first quarter valued at approximately $71,000. Finally, US Bancorp DE lifted its stake in Light & Wonder by 18.7% during the first 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. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Analysts Set New Price Targets

LNW has been the topic of several research analyst reports. Benchmark cut their price objective on Light & Wonder from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 8th. JPMorgan Chase & Co. lowered shares of Light & Wonder from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $108.00 to $95.00 in a research note on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Light & Wonder in a research report on Friday, October 31st. Zacks Research cut shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Stifel Nicolaus cut their target price on shares of Light & Wonder from $95.00 to $83.00 and set a “hold” rating on the stock in a research note on Tuesday, October 28th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $102.14.

Light & Wonder Trading Up 1.8%

NASDAQ LNW opened at $91.14 on Wednesday. Light & Wonder, Inc. has a 52 week low of $69.56 and a 52 week high of $113.94. The firm has a 50 day moving average of $82.23 and a two-hundred day moving average of $87.69. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86. The stock has a market capitalization of $7.43 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 0.48 and a beta of 1.42.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Wednesday, November 5th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.36. The business had revenue of $841.00 million during the quarter, compared to analysts’ expectations of $866.97 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 EPS. As a group, research analysts expect that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

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.