Victory Capital Management Inc. Has $2.01 Million Position in Light & Wonder, Inc. (NASDAQ:LNW)

Victory Capital Management Inc. trimmed its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 95.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,165 shares of the company’s stock after selling 368,738 shares during the quarter. Victory Capital Management Inc.’s holdings in Light & Wonder were worth $2,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Light & Wonder during the fourth quarter valued at about $124,523,000. Burgundy Asset Management Ltd. grew its stake in Light & Wonder by 1.2% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock worth $134,307,000 after buying an additional 15,902 shares in the last quarter. Ninety One UK Ltd grew its stake in Light & Wonder by 128.0% in the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after buying an additional 511,081 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Light & Wonder by 95.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock worth $73,601,000 after acquiring an additional 438,443 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Light & Wonder by 102.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock worth $78,320,000 after acquiring an additional 388,781 shares during the last quarter. 88.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Macquarie increased their price objective on shares of Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Stifel Nicolaus lifted their price objective on Light & Wonder from $98.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Truist Financial increased their target price on Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. boosted their price target on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $108.20.

Light & Wonder Trading Up 0.6 %

LNW stock opened at $112.68 on Thursday. Light & Wonder, Inc. has a 1-year low of $67.71 and a 1-year high of $114.16. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 46.76, a PEG ratio of 0.46 and a beta of 1.77. The business has a 50 day simple moving average of $105.84 and a two-hundred day simple moving average of $100.55.

Light & Wonder (NASDAQ:LNW) last posted its earnings results on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). The firm had revenue of $818.00 million for the quarter, compared to the consensus estimate of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.02 earnings per share. Research analysts anticipate that Light & Wonder, Inc. will post 4.44 EPS for the current fiscal year.

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.