American Century Companies Inc. Purchases 370 Shares of Light & Wonder, Inc. $LNW

American Century Companies Inc. lifted its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,321 shares of the company’s stock after acquiring an additional 370 shares during the quarter. American Century Companies Inc.’s holdings in Light & Wonder were worth $1,327,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its holdings in shares of Light & Wonder by 321.7% in the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company’s stock valued at $136,152,000 after purchasing an additional 1,199,213 shares during the period. Ninety One UK Ltd boosted its holdings in shares of Light & Wonder by 56.7% in the first quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock valued at $101,728,000 after purchasing an additional 425,202 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Light & Wonder by 63.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,191 shares of the company’s stock valued at $363,000 after purchasing an additional 1,632 shares during the period. Calamos Wealth Management LLC purchased a new stake in shares of Light & Wonder in the first quarter valued at approximately $294,000. Finally, Penserra Capital Management LLC boosted its holdings in shares of Light & Wonder by 463.6% in the first quarter. Penserra Capital Management LLC now owns 12,738 shares of the company’s stock valued at $1,102,000 after purchasing an additional 10,478 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Insider Activity

In other news, Director Antonia Korsanos bought 8,065 shares of the firm’s stock in a transaction that occurred on Sunday, August 10th. The stock was bought at an average price of $80.05 per share, with a total value of $645,603.25. Following the completion of the transaction, the director directly owned 22,815 shares of the company’s stock, valued at approximately $1,826,340.75. The trade was a 54.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy Throsby bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $89.37 per share, with a total value of $1,787,400.00. Following the transaction, the director directly owned 42,082 shares of the company’s stock, valued at $3,760,868.34. The trade was a 90.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 37,756 shares of company stock worth $3,209,088. 2.20% of the stock is currently owned by insiders.

Light & Wonder Trading Down 4.6%

NASDAQ:LNW opened at $88.23 on Wednesday. Light & Wonder, Inc. has a 52 week low of $69.56 and a 52 week high of $115.00. The firm has a 50 day moving average of $94.05 and a 200 day moving average of $92.01. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 0.56 and a beta of 1.18.

Light & Wonder (NASDAQ:LNW) last posted its earnings results on Wednesday, August 6th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.14. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The company had revenue of $809.00 million during the quarter, compared to analysts’ expectations of $851.29 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. Light & Wonder’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Macquarie lowered their price target on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Jefferies Financial Group set a $116.00 price objective on shares of Light & Wonder in a research note on Wednesday, June 25th. Mizuho increased their price objective on shares of Light & Wonder from $80.00 to $84.00 and gave the company an “underperform” rating in a research note on Thursday, May 8th. Zacks Research downgraded shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, Benchmark dropped their price objective on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Light & Wonder has a consensus rating of “Moderate Buy” and an average target price of $104.11.

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.