KBC Group NV Decreases Stake in Light & Wonder, Inc. $LNW

KBC Group NV cut its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 32.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,538 shares of the company’s stock after selling 1,208 shares during the period. KBC Group NV’s holdings in Light & Wonder were worth $244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Light & Wonder by 0.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock valued at $1,907,000 after purchasing an additional 133 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Light & Wonder by 41.8% during the 2nd quarter. AlphaQuest LLC now owns 604 shares of the company’s stock valued at $58,000 after buying an additional 178 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Light & Wonder by 198.9% during the 2nd quarter. IFP Advisors Inc now owns 269 shares of the company’s stock valued at $26,000 after buying an additional 179 shares during the last quarter. Savant Capital LLC grew its position in shares of Light & Wonder by 6.3% during the second quarter. Savant Capital LLC now owns 3,029 shares of the company’s stock worth $292,000 after buying an additional 180 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Light & Wonder by 18.7% in the first quarter. US Bancorp DE now owns 1,164 shares of the company’s stock worth $101,000 after buying an additional 183 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Light & Wonder Price Performance

LNW opened at $91.14 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86. The company’s 50-day moving average price is $82.23 and its 200 day moving average price is $87.69. Light & Wonder, Inc. has a fifty-two week low of $69.56 and a fifty-two week high of $113.94. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 0.48 and a beta of 1.42.

Light & Wonder (NASDAQ:LNW) last posted its earnings results on Wednesday, November 5th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.45 by $0.36. The company had revenue of $841.00 million during the quarter, compared to analyst estimates of $866.97 million. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%.The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 earnings per share. As a group, sell-side analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on LNW shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Light & Wonder in a research note on Friday, October 31st. Zacks Research cut shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Stifel Nicolaus decreased their price target on Light & Wonder from $95.00 to $83.00 and set a “hold” rating for the company in a research note on Tuesday, October 28th. Benchmark cut their price objective on Light & Wonder from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Finally, Macquarie decreased their target price on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.