Pinpoint Asset Management Singapore Pte. Ltd. Acquires Shares of 1,839 Light & Wonder, Inc. $LNW

Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Light & Wonder, Inc. (NASDAQ:LNW) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,839 shares of the company’s stock, valued at approximately $177,000.

Several other hedge funds have also bought and sold shares of LNW. Elo Mutual Pension Insurance Co bought a new position in shares of Light & Wonder during the second quarter valued at approximately $1,023,000. XTX Topco Ltd grew its stake in shares of Light & Wonder by 354.8% in the second quarter. XTX Topco Ltd now owns 11,198 shares of the company’s stock worth $1,078,000 after acquiring an additional 8,736 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Light & Wonder during the second quarter valued at $650,000. Prudential Financial Inc. raised its position in shares of Light & Wonder by 27.6% in the 2nd quarter. Prudential Financial Inc. now owns 7,354 shares of the company’s stock worth $693,000 after purchasing an additional 1,592 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Light & Wonder by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 16,291 shares of the company’s stock worth $1,568,000 after purchasing an additional 970 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Up 1.8%

Shares of Light & Wonder stock opened at $91.14 on Wednesday. Light & Wonder, Inc. has a twelve month low of $69.56 and a twelve month high of $113.94. 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 is $82.44 and its 200 day moving average is $87.78. The company 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 announced its earnings results on Wednesday, November 5th. The company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.36. The business had revenue of $841.00 million during the quarter, compared to analyst estimates of $866.97 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. Research analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Analyst Upgrades and Downgrades

LNW has been the subject of a number of analyst reports. Macquarie reduced their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Zacks Research downgraded shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. lowered shares of Light & Wonder from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $108.00 to $95.00 in a report on Thursday, August 7th. Stifel Nicolaus lowered their price objective on Light & Wonder from $95.00 to $83.00 and set a “hold” rating on the stock in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Light & Wonder in a report on Friday, October 31st. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.