Hantz Financial Services Inc. Boosts Stock Holdings in Light & Wonder, Inc. $LNW

Hantz Financial Services Inc. raised its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 66.5% during the second quarter, HoldingsChannel.com reports. The fund owned 3,490 shares of the company’s stock after purchasing an additional 1,394 shares during the quarter. Hantz Financial Services Inc.’s holdings in Light & Wonder were worth $336,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. IFP Advisors Inc grew its position in shares of Light & Wonder by 198.9% during the second quarter. IFP Advisors Inc now owns 269 shares of the company’s stock valued at $26,000 after purchasing an additional 179 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Light & Wonder by 41.8% in the second quarter. AlphaQuest LLC now owns 604 shares of the company’s stock worth $58,000 after buying an additional 178 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Light & Wonder during the first quarter valued at approximately $71,000. US Bancorp DE boosted its stake in Light & Wonder by 18.7% during the first quarter. US Bancorp DE now owns 1,164 shares of the company’s stock valued at $101,000 after buying an additional 183 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Light & Wonder by 217.8% during the 1st quarter. GAMMA Investing LLC now owns 1,265 shares of the company’s stock valued at $110,000 after buying an additional 867 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Performance

NASDAQ LNW opened at $72.70 on Monday. The business’s 50 day moving average price is $83.74 and its 200-day moving average price is $87.65. Light & Wonder, Inc. has a fifty-two week low of $69.56 and a fifty-two week high of $113.94. The company has a market cap of $6.10 billion, a P/E ratio of 18.36, a P/E/G ratio of 0.48 and a beta of 1.45. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.51 and a current ratio of 1.77.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. The company had revenue of $809.00 million during the quarter, compared to the consensus estimate of $851.29 million. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%.Light & Wonder’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Sell-side analysts predict that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Insider Activity

In other news, Director Hamish Mclennan acquired 1,380 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $87.61 per share, with a total value of $120,901.80. Following the completion of the purchase, the director directly owned 6,380 shares in the company, valued at approximately $558,951.80. This trade represents a 27.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Antonia Korsanos bought 8,065 shares of the company’s stock in a transaction on Sunday, August 10th. The shares were acquired at an average price of $80.05 per share, with a total value of $645,603.25. Following the transaction, the director directly owned 22,815 shares of the company’s stock, valued at approximately $1,826,340.75. This trade represents a 54.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 37,756 shares of company stock worth $3,209,088 over the last 90 days. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

LNW has been the topic of several recent research reports. Zacks Research cut Light & Wonder from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Wall Street Zen lowered shares of Light & Wonder from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Truist Financial upped their price target on shares of Light & Wonder from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Benchmark lowered their price objective on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Light & Wonder in a research note on Friday. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Light & Wonder presently has an average rating of “Hold” and a consensus target price of $102.14.

Light & Wonder Company Profile

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.