Oak Thistle LLC Takes Position in Light & Wonder, Inc. $LNW

Oak Thistle LLC purchased a new stake in Light & Wonder, Inc. (NASDAQ:LNW) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,486 shares of the company’s stock, valued at approximately $1,887,000.

Several other institutional investors also recently modified their holdings of LNW. IFP Advisors Inc boosted its stake 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 buying an additional 179 shares in the last quarter. Employees Retirement System of Texas bought a new stake in Light & Wonder during the 2nd quarter worth approximately $29,000. Headlands Technologies LLC acquired a new stake in shares of Light & Wonder in the second quarter valued at $38,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Light & Wonder by 118.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 437 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Light & Wonder by 41.8% in the second quarter. AlphaQuest LLC now owns 604 shares of the company’s stock valued at $58,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Light & Wonder in a research note on Friday, October 31st. Stifel Nicolaus dropped their price target 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. Finally, Benchmark boosted their price objective on shares of Light & Wonder from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.00.

Light & Wonder Trading Up 1.8%

NASDAQ LNW opened at $91.14 on Thursday. The stock has a 50 day moving average of $84.38 and a 200-day moving average of $88.31. Light & Wonder, Inc. has a 12 month low of $69.56 and a 12 month high of $113.94. The company has a market cap of $7.43 billion, a PE ratio of 23.01, a PEG ratio of 0.48 and a beta of 1.42. The company has a current ratio of 1.77, a quick ratio of 1.51 and a debt-to-equity ratio of 6.86.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Wednesday, November 5th. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.36. The company had revenue of $841.00 million for the quarter, compared to analysts’ expectations of $866.97 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. Light & Wonder’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. On average, equities research analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

About Light & Wonder

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.