Franklin Resources Inc. Makes New $1.36 Million Investment in Light & Wonder, Inc. (NASDAQ:LNW)

Franklin Resources Inc. acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNWFree Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,570 shares of the company’s stock, valued at approximately $1,361,000.

Several other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Light & Wonder during the fourth quarter valued at $124,523,000. Charles Schwab Investment Management Inc. increased its holdings in Light & Wonder by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,251,206 shares of the company’s stock worth $89,249,000 after purchasing an additional 231,631 shares in the last quarter. Moody Aldrich Partners LLC bought a new stake in Light & Wonder in the fourth quarter worth approximately $6,848,000. Barclays PLC increased its holdings in Light & Wonder by 95.8% in the third quarter. Barclays PLC now owns 168,548 shares of the company’s stock worth $12,021,000 after purchasing an additional 82,460 shares in the last quarter. Finally, Westpac Banking Corp bought a new stake in Light & Wonder in the fourth quarter worth approximately $4,441,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Macquarie raised their price objective on Light & Wonder from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Redburn Atlantic cut Light & Wonder from a “buy” rating to a “neutral” rating and raised their price objective for the company from $105.00 to $110.00 in a research note on Monday, March 11th. Susquehanna cut Light & Wonder from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $111.00 to $95.00 in a research note on Friday, May 10th. Finally, Truist Financial raised their price objective on Light & Wonder from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $95.08.

Get Our Latest Stock Analysis on LNW

Light & Wonder Stock Up 2.9 %

Shares of NASDAQ:LNW opened at $99.59 on Thursday. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 41.32 and a beta of 1.75. The company has a quick ratio of 1.72, a current ratio of 1.98 and a debt-to-equity ratio of 4.61. Light & Wonder, Inc. has a 12-month low of $61.95 and a 12-month high of $108.90. The business’s 50 day moving average is $94.69 and its 200 day moving average is $90.57.

Light & Wonder (NASDAQ:LNWGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.23. The company had revenue of $756.00 million for the quarter, compared to analysts’ expectations of $732.01 million. Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. On average, sell-side analysts forecast that Light & Wonder, Inc. will post 4.2 earnings per share for the current fiscal year.

Light & Wonder Profile

(Free Report)

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.

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Institutional Ownership by Quarter for Light & Wonder (NASDAQ:LNW)

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