Voya Investment Management LLC Has $6.32 Million Stock Position in Light & Wonder, Inc. $LNW

Voya Investment Management LLC raised its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 14.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,002 shares of the company’s stock after purchasing an additional 9,043 shares during the period. Voya Investment Management LLC owned 0.09% of Light & Wonder worth $6,323,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of Light & Wonder by 4,783.3% during the first quarter. Versant Capital Management Inc now owns 293 shares of the company’s stock worth $25,000 after buying an additional 287 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Light & Wonder by 3,861.1% during the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock valued at $63,000 after acquiring an additional 695 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Light & Wonder during the 1st quarter valued at $71,000. CX Institutional acquired a new position in shares of Light & Wonder in the 1st quarter valued at $87,000. Finally, US Bancorp DE boosted its position in shares of Light & Wonder by 18.7% in the 1st quarter. US Bancorp DE now owns 1,164 shares of the company’s stock worth $101,000 after purchasing an additional 183 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Down 0.6%

Light & Wonder stock opened at $88.15 on Thursday. The company has a 50 day moving average of $91.99 and a 200-day moving average of $90.89. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86. Light & Wonder, Inc. has a twelve month low of $69.56 and a twelve month high of $115.00. The stock has a market capitalization of $7.40 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.44 by $0.14. The business had revenue of $809.00 million for the quarter, compared to analysts’ expectations of $851.29 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. On average, equities research analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Insider Transactions at Light & Wonder

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

Wall Street Analyst Weigh In

A number of research firms recently commented on LNW. Zacks Research downgraded Light & Wonder from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Benchmark lowered their price target on Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 8th. JPMorgan Chase & Co. downgraded shares of Light & Wonder from an “overweight” rating to a “neutral” rating and cut their price target for the company from $108.00 to $95.00 in a research report on Thursday, August 7th. Wall Street Zen cut shares of Light & Wonder from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Finally, Truist Financial upped their target price on shares of Light & Wonder from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.11.

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.