Renaissance Technologies LLC Sells 227,100 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Renaissance Technologies LLC reduced its position in Light & Wonder, Inc. (NASDAQ:LNW) by 47.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,400 shares of the company’s stock after selling 227,100 shares during the quarter. Renaissance Technologies LLC owned 0.28% of Light & Wonder worth $26,262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in LNW. Quadrant Capital Group LLC grew its stake in Light & Wonder by 44.1% in the fourth quarter. Quadrant Capital Group LLC now owns 869 shares of the company’s stock valued at $71,000 after purchasing an additional 266 shares during the last quarter. Norges Bank purchased a new position in Light & Wonder in the fourth quarter valued at about $124,523,000. UBS Group AG grew its stake in Light & Wonder by 18.8% in the fourth quarter. UBS Group AG now owns 271,108 shares of the company’s stock valued at $22,261,000 after purchasing an additional 42,927 shares during the last quarter. Franklin Resources Inc. purchased a new position in Light & Wonder in the fourth quarter valued at about $1,361,000. Finally, US Bancorp DE grew its stake in Light & Wonder by 1,103.6% in the fourth quarter. US Bancorp DE now owns 9,954 shares of the company’s stock valued at $817,000 after purchasing an additional 9,127 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Truist Financial boosted their price target on Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Benchmark restated a “buy” rating and set a $114.00 price target on shares of Light & Wonder in a research note on Thursday, August 8th. Macquarie boosted their price target on Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus boosted their price target on Light & Wonder from $98.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $108.20.

Light & Wonder Stock Down 0.2 %

NASDAQ:LNW opened at $112.48 on Friday. The firm has a market capitalization of $9.98 billion, a P/E ratio of 46.67, a PEG ratio of 0.46 and a beta of 1.77. Light & Wonder, Inc. has a 1-year low of $67.71 and a 1-year high of $115.00. The company’s fifty day moving average price is $105.84 and its 200-day moving average price is $100.55. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). The business had revenue of $818.00 million during the quarter, compared to analyst estimates of $798.09 million. Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.02 EPS. As a group, equities research analysts anticipate that Light & Wonder, Inc. will post 4.44 EPS for the current year.

About Light & Wonder

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.