Light & Wonder, Inc. (NASDAQ:LNW) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can increased its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 0.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 185,097 shares of the company’s stock after purchasing an additional 279 shares during the period. Bank of Montreal Can owned approximately 0.21% of Light & Wonder worth $19,433,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Burgundy Asset Management Ltd. boosted its stake in shares of Light & Wonder by 1.2% in the first quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock valued at $134,307,000 after purchasing an additional 15,902 shares during the period. Ninety One UK Ltd grew its stake in shares of Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after acquiring an additional 511,081 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Light & Wonder by 95.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock worth $73,601,000 after acquiring an additional 438,443 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Light & Wonder by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock valued at $84,215,000 after acquiring an additional 12,317 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Light & Wonder by 102.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after purchasing an additional 388,781 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Price Performance

Light & Wonder stock opened at $92.38 on Friday. The company has a market cap of $8.20 billion, a P/E ratio of 38.33, a price-to-earnings-growth ratio of 0.38 and a beta of 1.77. Light & Wonder, Inc. has a one year low of $67.71 and a one year high of $115.00. The business has a fifty day moving average of $105.25 and a two-hundred day moving average of $100.55. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The company had revenue of $818.00 million for the quarter, compared to analysts’ expectations of $798.09 million. During the same period in the prior year, the firm posted $1.02 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts predict that Light & Wonder, Inc. will post 4.44 earnings per share for the current fiscal year.

Light & Wonder declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Truist Financial raised their target price on shares of Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Maxim Group assumed coverage on shares of Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 price target for the company. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday. Finally, Benchmark reiterated a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $106.60.

Light & Wonder Profile

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.