3,195 Shares in Light & Wonder, Inc. $LNW Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,195 shares of the company’s stock, valued at approximately $308,000.

Several other institutional investors also recently bought and sold shares of LNW. Versant Capital Management Inc grew its holdings 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 period. Farther Finance Advisors LLC grew its holdings in Light & Wonder by 3,861.1% in the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock valued at $63,000 after purchasing an additional 695 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Light & Wonder in the first quarter valued at approximately $71,000. CX Institutional acquired a new stake in Light & Wonder in the first quarter valued at approximately $87,000. Finally, US Bancorp DE grew its holdings in Light & Wonder by 18.7% in the first quarter. US Bancorp DE now owns 1,164 shares of the company’s stock valued at $101,000 after purchasing an additional 183 shares during the period. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Trading Down 1.1%

LNW opened at $87.28 on Monday. Light & Wonder, Inc. has a 12 month low of $69.56 and a 12 month high of $113.95. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 0.53 and a beta of 1.18. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. The business has a fifty day moving average price of $91.53 and a 200 day moving average price of $90.39.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on LNW shares. Wall Street Zen lowered Light & Wonder from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Jefferies Financial Group set a $116.00 target price on Light & Wonder in a research report on Wednesday, June 25th. Truist Financial raised their target price on Light & Wonder from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Macquarie decreased their target price on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. downgraded Light & Wonder from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $108.00 to $95.00 in a research report on Thursday, August 7th. Two research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.11.

Insider Buying and Selling

In other Light & Wonder news, Director Timothy Throsby acquired 20,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $89.37 per share, with a total value of $1,787,400.00. Following the transaction, the director owned 42,082 shares in the company, valued at $3,760,868.34. The trade was a 90.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jamie Odell acquired 8,275 shares of the stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $78.81 per share, with a total value of $652,152.75. Following the completion of the transaction, the director owned 8,275 shares in the company, valued at approximately $652,152.75. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 37,756 shares of company stock valued at $3,209,088. Company insiders own 2.20% of the company’s stock.

Light & Wonder Company 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.