Journey Strategic Wealth LLC Purchases New Position in Light & Wonder, Inc. $LNW

Journey Strategic Wealth LLC acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,241 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently added to or reduced their stakes in LNW. IFP Advisors Inc increased its holdings in shares of Light & Wonder by 198.9% during the second quarter. IFP Advisors Inc now owns 269 shares of the company’s stock worth $26,000 after buying an additional 179 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Light & Wonder by 118.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 437 shares of the company’s stock worth $42,000 after acquiring an additional 237 shares during the last quarter. AlphaQuest LLC increased its holdings in Light & Wonder by 41.8% in the 2nd quarter. AlphaQuest LLC now owns 604 shares of the company’s stock worth $58,000 after purchasing an additional 178 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Light & Wonder in the first quarter valued at about $71,000. Finally, US Bancorp DE raised its position in Light & Wonder by 18.7% in the first quarter. US Bancorp DE now owns 1,164 shares of the company’s stock valued at $101,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Stock Up 1.8%

Shares of Light & Wonder stock opened at $91.14 on Tuesday. The stock’s 50-day moving average is $82.39 and its 200 day moving average is $87.71. Light & Wonder, Inc. has a one year low of $69.56 and a one year high of $113.94. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 0.48 and a beta of 1.42. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51.

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

Analyst Upgrades and Downgrades

LNW has been the topic of several research reports. Benchmark reduced their price target on Light & Wonder from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Zacks Research lowered shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Stifel Nicolaus decreased their price target on shares of Light & Wonder from $95.00 to $83.00 and set a “hold” rating for the company in a research report on Tuesday, October 28th. JPMorgan Chase & Co. lowered shares of Light & Wonder from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $108.00 to $95.00 in a report on Thursday, August 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Light & Wonder in a report on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Light & Wonder presently has an average rating of “Hold” and a consensus price target 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.