Intech Investment Management LLC Takes Position in Light & Wonder, Inc. (NASDAQ:LNW)

Intech Investment Management LLC acquired a new position in Light & Wonder, Inc. (NASDAQ:LNW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,443 shares of the company’s stock, valued at approximately $1,620,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MQS Management LLC acquired a new stake in Light & Wonder during the 2nd quarter worth $375,000. XTX Topco Ltd grew its stake in shares of Light & Wonder by 331.1% during the second quarter. XTX Topco Ltd now owns 14,226 shares of the company’s stock worth $1,492,000 after purchasing an additional 10,926 shares during the period. Hsbc Holdings PLC grew its stake in shares of Light & Wonder by 135.6% during the second quarter. Hsbc Holdings PLC now owns 15,934 shares of the company’s stock worth $1,685,000 after purchasing an additional 9,172 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Light & Wonder by 7.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,156 shares of the company’s stock valued at $855,000 after purchasing an additional 573 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Light & Wonder by 6.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 6,320 shares of the company’s stock valued at $685,000 after buying an additional 360 shares during the period. 88.08% of the stock is owned by institutional investors.

Light & Wonder Stock Up 0.1 %

NASDAQ:LNW opened at $112.68 on Tuesday. The company has a market cap of $10.16 billion, a PE ratio of 46.76, a PEG ratio of 0.46 and a beta of 1.77. The stock has a 50-day simple moving average of $106.16 and a 200 day simple moving average of $100.80. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. Light & Wonder, Inc. has a 52-week low of $67.71 and a 52-week high of $115.00.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The business had revenue of $818.00 million during the quarter, compared to analyst estimates of $798.09 million. During the same quarter last year, the business earned $1.02 earnings per share. Light & Wonder’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts expect that Light & Wonder, Inc. will post 4.44 EPS for the current fiscal year.

Light & Wonder declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price target 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 increased their target price on shares of Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Macquarie boosted their price target on shares of Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Maxim Group started coverage on Light & Wonder in a research note on Monday, August 26th. They set a “buy” rating and a $144.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Light & Wonder presently has an average rating of “Hold” and a consensus price target of $108.20.

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.