XY Capital Ltd Acquires 23,456 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

XY Capital Ltd raised its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 200.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 35,170 shares of the company’s stock after purchasing an additional 23,456 shares during the period. Light & Wonder accounts for about 1.1% of XY Capital Ltd’s portfolio, making the stock its 11th largest position. XY Capital Ltd’s holdings in Light & Wonder were worth $3,191,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Burgundy Asset Management Ltd. lifted its stake in shares of Light & Wonder by 1.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock worth $134,307,000 after purchasing an additional 15,902 shares during the last quarter. Ninety One UK Ltd raised its holdings in Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after purchasing an additional 511,081 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Light & Wonder by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock valued at $84,215,000 after buying an additional 12,317 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 buying an additional 388,781 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Light & Wonder by 573.3% in the 2nd quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after buying an additional 493,295 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

LNW has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research report on Thursday, August 8th. Macquarie decreased their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Truist Financial dropped their target price on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. UBS Group upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their price target on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Light & Wonder presently has a consensus rating of “Moderate Buy” and an average price target of $107.36.

Light & Wonder Price Performance

Shares of NASDAQ LNW opened at $102.89 on Friday. Light & Wonder, Inc. has a 52 week low of $76.52 and a 52 week high of $115.00. The business’s 50 day moving average price is $99.15 and its 200 day moving average price is $99.67. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. The firm has a market cap of $9.13 billion, a P/E ratio of 30.99, a P/E/G ratio of 0.42 and a beta of 1.75.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14). The business had revenue of $818.00 million during the quarter, compared to analysts’ expectations of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. On average, sell-side analysts expect that Light & Wonder, Inc. will post 4.41 earnings per share for the current year.

Light & Wonder announced that its board has approved a stock repurchase plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.