AdvisorShares Investments LLC Has $299,000 Position in Light & Wonder, Inc. (NASDAQ:LNW)

AdvisorShares Investments LLC cut its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,913 shares of the company’s stock after selling 120 shares during the quarter. AdvisorShares Investments LLC’s holdings in Light & Wonder were worth $299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Light & Wonder in the 4th quarter valued at $124,523,000. Ninety One UK Ltd increased its stake in Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock valued at $95,472,000 after acquiring an additional 511,081 shares during the period. Goldman Sachs Group Inc. raised its position in Light & Wonder by 95.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock worth $73,601,000 after purchasing an additional 438,443 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Light & Wonder by 102.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock worth $78,320,000 after purchasing an additional 388,781 shares in the last quarter. Finally, Ossiam bought a new position in Light & Wonder during the first quarter worth about $13,578,000. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Stock Up 2.7 %

NASDAQ LNW opened at $109.62 on Thursday. The stock has a market capitalization of $9.88 billion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 0.44 and a beta of 1.77. Light & Wonder, Inc. has a 52 week low of $67.71 and a 52 week high of $111.00. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. The stock has a fifty day moving average of $105.15 and a 200-day moving average of $100.09.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $114.00 target price on shares of Light & Wonder in a report on Thursday, August 8th. Truist Financial boosted their price target on shares of Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Stifel Nicolaus boosted their target price on Light & Wonder from $98.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price target on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $108.20.

Light & Wonder Company 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.