Journey Strategic Wealth LLC Makes New Investment in Light & Wonder, Inc. $LNW

Journey Strategic Wealth LLC acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,241 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. acquired a new stake in Light & Wonder in the 1st quarter valued at $1,130,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Light & Wonder in the first quarter valued at $855,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Light & Wonder by 0.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock valued at $1,907,000 after buying an additional 133 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Light & Wonder by 2.6% during the first quarter. Federated Hermes Inc. now owns 36,224 shares of the company’s stock worth $3,137,000 after acquiring an additional 913 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Light & Wonder in the 1st quarter worth about $71,000. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Trading Up 1.8%

NASDAQ LNW opened at $91.14 on Tuesday. The business’s fifty day moving average is $82.39 and its 200-day moving average is $87.71. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 0.48 and a beta of 1.42. Light & Wonder, Inc. has a one year low of $69.56 and a one year high of $113.94.

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

Analysts Set New Price Targets

A number of research firms have issued reports on LNW. Stifel Nicolaus cut their price target on Light & Wonder from $95.00 to $83.00 and set a “hold” rating for the company in a research note on Tuesday, October 28th. JPMorgan Chase & Co. lowered Light & Wonder from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $108.00 to $95.00 in a research report on Thursday, August 7th. Macquarie dropped their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Zacks Research downgraded shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Light & Wonder in a report on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $102.14.

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.