Light & Wonder, Inc. (NASDAQ:LNW) Stake Lifted by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. increased its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 95.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 896,372 shares of the company’s stock after purchasing an additional 438,443 shares during the period. Goldman Sachs Group Inc. owned 1.00% of Light & Wonder worth $73,601,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Light & Wonder in the 4th quarter worth $807,000. Neo Ivy Capital Management bought a new stake in Light & Wonder in the fourth quarter worth about $157,000. C M Bidwell & Associates Ltd. acquired a new stake in Light & Wonder in the 4th quarter valued at about $69,000. AdvisorShares Investments LLC bought a new position in shares of Light & Wonder during the 4th quarter valued at about $320,000. Finally, Cibc World Markets Corp acquired a new position in shares of Light & Wonder in the 4th quarter worth approximately $5,748,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Light & Wonder Trading Up 0.9 %

NASDAQ LNW opened at $93.75 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.72 and a debt-to-equity ratio of 4.61. Light & Wonder, Inc. has a 1-year low of $62.16 and a 1-year high of $108.90. The firm’s fifty day simple moving average is $93.82 and its 200-day simple moving average is $91.06. The company has a market capitalization of $8.45 billion, a PE ratio of 38.90 and a beta of 1.75.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Wednesday, May 8th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.23. The company had revenue of $756.00 million for the quarter, compared to analyst estimates of $732.01 million. Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. As a group, sell-side analysts anticipate that Light & Wonder, Inc. will post 4.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

LNW has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Susquehanna lowered Light & Wonder from a “positive” rating to a “neutral” rating and cut their target price for the stock from $111.00 to $95.00 in a research report on Friday, May 10th. Mizuho decreased their price target on Light & Wonder from $83.00 to $79.00 and set an “underperform” rating for the company in a research report on Thursday, May 9th. Macquarie boosted their price objective on Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Finally, Redburn Atlantic cut shares of Light & Wonder from a “buy” rating to a “neutral” rating and raised their target price for the stock from $105.00 to $110.00 in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $95.08.

Light & Wonder Profile

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.