Emerald Advisers LLC Sells 5,322 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Emerald Advisers LLC lessened its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 176,434 shares of the company’s stock after selling 5,322 shares during the quarter. Emerald Advisers LLC’s holdings in Light & Wonder were worth $18,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNW. Norges Bank bought a new stake in shares of Light & Wonder in the fourth quarter worth about $124,523,000. Burgundy Asset Management Ltd. lifted its stake in Light & Wonder by 1.2% in the first quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock valued at $134,307,000 after buying an additional 15,902 shares in the last quarter. Ninety One UK Ltd increased its position in shares of Light & Wonder by 128.0% during the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after acquiring an additional 511,081 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Light & Wonder by 95.7% during the fourth 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 period. Finally, Price T Rowe Associates Inc. MD lifted its position in 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 valued at $78,320,000 after acquiring an additional 388,781 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Price Performance

Shares of Light & Wonder stock opened at $105.00 on Friday. The stock has a market capitalization of $9.32 billion, a P/E ratio of 43.57, a price-to-earnings-growth ratio of 0.45 and a beta of 1.77. 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 business’s 50 day simple moving average is $104.90 and its two-hundred day simple moving average is $99.75. Light & Wonder, Inc. has a one year low of $67.71 and a one year high of $111.00.

Light & Wonder (NASDAQ:LNW) last posted its earnings results 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). 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 for the quarter, compared to analysts’ expectations of $798.09 million. During the same quarter last year, the company posted $1.02 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. Analysts forecast that Light & Wonder, Inc. will post 4.44 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a report 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 report on Thursday, July 18th. Macquarie raised their target price on shares of Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Stifel Nicolaus raised their price target on Light & Wonder from $98.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Finally, Benchmark reissued a “buy” rating and set a $114.00 price target on shares of Light & Wonder in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Light & Wonder has an average rating of “Hold” and an average target price of $106.36.

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.