Bank of Montreal Can Reduces Holdings in Light & Wonder, Inc. $LNW

Bank of Montreal Can reduced its position in Light & Wonder, Inc. (NASDAQ:LNW) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,687 shares of the company’s stock after selling 1,147 shares during the quarter. Bank of Montreal Can’s holdings in Light & Wonder were worth $932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Light & Wonder by 0.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock worth $1,907,000 after buying an additional 133 shares in the last quarter. AlphaQuest LLC boosted its position in Light & Wonder by 41.8% during the second quarter. AlphaQuest LLC now owns 604 shares of the company’s stock worth $58,000 after acquiring an additional 178 shares during the last quarter. IFP Advisors Inc boosted its position in Light & Wonder by 198.9% during the second quarter. IFP Advisors Inc now owns 269 shares of the company’s stock worth $26,000 after acquiring an additional 179 shares during the last quarter. US Bancorp DE grew its stake in Light & Wonder by 18.7% during the 1st quarter. US Bancorp DE now owns 1,164 shares of the company’s stock valued at $101,000 after acquiring an additional 183 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Light & Wonder by 2.5% in the 1st quarter. American Century Companies Inc. now owns 15,321 shares of the company’s stock valued at $1,327,000 after acquiring an additional 370 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LNW. Zacks Research cut Light & Wonder from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Stifel Nicolaus reduced their price objective on Light & Wonder from $95.00 to $83.00 and set a “hold” rating on the stock in a research report on Tuesday, October 28th. JPMorgan Chase & Co. cut Light & Wonder from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $108.00 to $95.00 in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Light & Wonder in a research note on Friday, October 31st. Finally, Macquarie lowered their price target on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $102.14.

Light & Wonder Price Performance

NASDAQ:LNW opened at $91.14 on Friday. Light & Wonder, Inc. has a 52 week low of $69.56 and a 52 week high of $113.94. The stock’s fifty day moving average is $82.13 and its two-hundred day moving average is $87.66. The company has a market capitalization of $7.43 billion, a P/E ratio of 23.01, a P/E/G ratio of 0.48 and a beta of 1.42. 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 (NASDAQ:LNW) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.36. The firm had revenue of $841.00 million during the quarter, compared to the consensus estimate of $866.97 million. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%.The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $0.71 EPS. Equities analysts expect that Light & Wonder, Inc. will post 4.3 EPS for the current 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.