Envestnet Asset Management Inc. Acquires 4,215 Shares of Light & Wonder, Inc. $LNW

Envestnet Asset Management Inc. increased its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 32.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,257 shares of the company’s stock after purchasing an additional 4,215 shares during the period. Envestnet Asset Management Inc.’s holdings in Light & Wonder were worth $1,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC grew its stake in shares of Light & Wonder by 22.2% during the first quarter. CWM LLC now owns 5,355 shares of the company’s stock valued at $464,000 after buying an additional 973 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Light & Wonder by 87.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 12,967 shares of the company’s stock worth $1,123,000 after purchasing an additional 6,067 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Light & Wonder in the first quarter valued at approximately $855,000. Oak Thistle LLC bought a new stake in Light & Wonder in the first quarter valued at approximately $3,895,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Light & Wonder by 0.6% during the first 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 during the period. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Up 1.8%

Shares of LNW opened at $91.14 on Thursday. Light & Wonder, Inc. has a 1-year low of $69.56 and a 1-year high of $113.94. The company has a current ratio of 1.77, a quick ratio of 1.51 and a debt-to-equity ratio of 6.86. The firm’s 50-day moving average price is $82.28 and its 200-day moving average price is $87.71. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 0.48 and a beta of 1.42.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on LNW shares. JPMorgan Chase & Co. lowered shares of Light & Wonder from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $108.00 to $95.00 in a report on Thursday, August 7th. Zacks Research cut shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Light & Wonder in a report on Friday, October 31st. Benchmark cut their target price 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, Stifel Nicolaus lowered their price target on Light & Wonder from $95.00 to $83.00 and set a “hold” rating for the company in a research report on Tuesday, October 28th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Light & Wonder presently has an average rating of “Hold” and a consensus price target of $102.14.

About Light & Wonder

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.