Light & Wonder, Inc. $LNW Holdings Cut by Harvard Management Co. Inc.

Harvard Management Co. Inc. trimmed its position in Light & Wonder, Inc. (NASDAQ:LNW) by 41.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 621,406 shares of the company’s stock after selling 437,486 shares during the period. Light & Wonder accounts for 4.2% of Harvard Management Co. Inc.’s investment portfolio, making the stock its 9th biggest position. Harvard Management Co. Inc. owned about 0.74% of Light & Wonder worth $59,817,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LNW. Envestnet Asset Management Inc. purchased a new position in Light & Wonder during the first quarter worth about $1,130,000. CWM LLC raised its holdings in shares of Light & Wonder by 22.2% in the 1st quarter. CWM LLC now owns 5,355 shares of the company’s stock valued at $464,000 after acquiring an additional 973 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Light & Wonder during the 1st quarter valued at about $1,097,000. Optimist Retirement Group LLC purchased a new position in shares of Light & Wonder during the first quarter worth about $205,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Light & Wonder by 87.9% in the first 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 last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Up 1.8%

LNW opened at $91.14 on Friday. The company has a market cap of $7.43 billion, a P/E ratio of 23.01, a P/E/G ratio of 0.48 and a beta of 1.42. The business’s 50-day moving average price is $82.13 and its 200-day moving average price is $87.66. The company has a current ratio of 1.77, a quick ratio of 1.51 and a debt-to-equity ratio of 6.86. Light & Wonder, Inc. has a 12 month low of $69.56 and a 12 month high of $113.94.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on LNW shares. JPMorgan Chase & Co. cut 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 research note on Thursday, August 7th. Benchmark cut their target price 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. Stifel Nicolaus reduced their target price on Light & Wonder from $95.00 to $83.00 and set a “hold” rating on the stock in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Light & Wonder in a research note on Friday, October 31st. Finally, Zacks Research lowered Light & Wonder from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Five 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.