GAMMA Investing LLC Purchases 867 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

GAMMA Investing LLC lifted its position in Light & Wonder, Inc. (NASDAQ:LNW) by 217.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,265 shares of the company’s stock after acquiring an additional 867 shares during the quarter. GAMMA Investing LLC’s holdings in Light & Wonder were worth $110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in LNW. Versant Capital Management Inc grew its stake in Light & Wonder by 4,783.3% in the first quarter. Versant Capital Management Inc now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 287 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Light & Wonder by 3,861.1% during the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock worth $63,000 after acquiring an additional 695 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Light & Wonder during the fourth quarter worth about $224,000. Farringdon Capital Ltd. purchased a new stake in shares of Light & Wonder during the fourth quarter worth about $230,000. Finally, LPL Financial LLC lifted its holdings in shares of Light & Wonder by 12.2% during the fourth quarter. LPL Financial LLC now owns 2,677 shares of the company’s stock worth $231,000 after purchasing an additional 291 shares during the period. 88.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on LNW. Wall Street Zen raised Light & Wonder from a “hold” rating to a “buy” rating in a report on Saturday. Mizuho boosted their price target on Light & Wonder from $80.00 to $84.00 and gave the company an “underperform” rating in a report on Thursday, May 8th. Macquarie boosted their price target on Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, June 16th. Jefferies Financial Group set a $116.00 price target on Light & Wonder in a report on Wednesday, June 25th. Finally, Truist Financial reduced their target price on Light & Wonder from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.55.

Light & Wonder Stock Performance

NASDAQ LNW opened at $99.45 on Monday. The stock has a market cap of $8.39 billion, a PE ratio of 26.52, a P/E/G ratio of 0.43 and a beta of 1.23. The company has a current ratio of 1.57, a quick ratio of 1.35 and a debt-to-equity ratio of 6.26. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00. The stock has a fifty day simple moving average of $88.19 and a 200-day simple moving average of $90.50.

Light & Wonder (NASDAQ:LNW) last posted its earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). Light & Wonder had a return on equity of 68.41% and a net margin of 10.45%. The firm had revenue of $774.00 million for the quarter, compared to analyst estimates of $802.93 million. During the same period in the previous year, the company posted $0.88 EPS. Light & Wonder’s revenue was up 2.4% on a year-over-year basis. Equities analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

About Light & Wonder

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.