Light & Wonder, Inc. $LNW Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 125.2% during the second quarter, Holdings Channel.com reports. The firm owned 72,428 shares of the company’s stock after purchasing an additional 40,263 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Light & Wonder were worth $6,972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in LNW. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Light & Wonder by 0.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock valued at $1,907,000 after purchasing an additional 133 shares during the last quarter. AlphaQuest LLC grew its stake in Light & Wonder by 41.8% in the 2nd quarter. AlphaQuest LLC now owns 604 shares of the company’s stock worth $58,000 after acquiring an additional 178 shares during the period. IFP Advisors Inc increased its stake in Light & Wonder by 198.9% in the second quarter. IFP Advisors Inc now owns 269 shares of the company’s stock valued at $26,000 after purchasing an additional 179 shares during the last quarter. Savant Capital LLC increased its stake in shares of Light & Wonder by 6.3% during the 2nd quarter. Savant Capital LLC now owns 3,029 shares of the company’s stock valued at $292,000 after acquiring an additional 180 shares during the last quarter. Finally, US Bancorp DE raised 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 during the period. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Light & Wonder Stock Performance

Shares of LNW opened at $86.22 on Thursday. Light & Wonder, Inc. has a one year low of $69.56 and a one year high of $113.94. 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 cap of $7.03 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 0.48 and a beta of 1.42. The company has a 50-day moving average of $82.03 and a two-hundred day moving average of $87.57.

Light & Wonder (NASDAQ:LNW) last released its earnings results 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. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The company had revenue of $841.00 million during the quarter, compared to the consensus estimate of $866.97 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on LNW. Zacks Research cut shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Benchmark dropped their price target on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Stifel Nicolaus lowered their price target on Light & Wonder from $95.00 to $83.00 and set a “hold” rating for the company in a report on Tuesday, October 28th. Macquarie dropped their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Light & Wonder in a research note on Friday, October 31st. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.