Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 582,931 shares of the company’s stock after selling 14,869 shares during the period. Bank of New York Mellon Corp owned 0.69% of Light & Wonder worth $50,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in LNW. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Light & Wonder by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock worth $387,000 after purchasing an additional 108 shares in the last quarter. Centaurus Financial Inc. raised its holdings in shares of Light & Wonder by 3.3% in the 4th quarter. Centaurus Financial Inc. now owns 3,350 shares of the company’s stock worth $289,000 after purchasing an additional 108 shares in the last quarter. Xponance Inc. raised its holdings in shares of Light & Wonder by 0.7% in the 4th quarter. Xponance Inc. now owns 17,769 shares of the company’s stock worth $1,535,000 after purchasing an additional 120 shares in the last quarter. Simon Quick Advisors LLC raised its holdings in shares of Light & Wonder by 2.9% in the 1st quarter. Simon Quick Advisors LLC now owns 4,752 shares of the company’s stock worth $412,000 after purchasing an additional 136 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Light & Wonder by 3.8% in the 1st quarter. KBC Group NV now owns 3,746 shares of the company’s stock worth $324,000 after purchasing an additional 137 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on LNW shares. Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a report on Wednesday, June 25th. Truist Financial dropped their target price on shares of Light & Wonder from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus boosted their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of Light & Wonder from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Macquarie boosted their price target on shares of Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Light & Wonder has a consensus rating of “Moderate Buy” and a consensus price target of $106.55.

Light & Wonder Stock Down 3.4%

Light & Wonder stock opened at $97.59 on Friday. The firm has a market cap of $8.23 billion, a PE ratio of 26.02, a P/E/G ratio of 0.43 and a beta of 1.23. The company has a debt-to-equity ratio of 6.26, a quick ratio of 1.35 and a current ratio of 1.57. The firm’s 50 day moving average price is $89.46 and its two-hundred day moving average price is $90.95. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00.

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

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.