Price T Rowe Associates Inc. MD Buys 388,781 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Price T Rowe Associates Inc. MD grew its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 102.8% in the first quarter, HoldingsChannel.com reports. The fund owned 767,155 shares of the company’s stock after acquiring an additional 388,781 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Light & Wonder were worth $78,320,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LNW. Rise Advisors LLC bought a new stake in shares of Light & Wonder in the first quarter worth about $38,000. Fidelis Capital Partners LLC bought a new stake in Light & Wonder during the 1st quarter worth approximately $38,000. USA Financial Formulas acquired a new stake in Light & Wonder during the 4th quarter worth approximately $62,000. C M Bidwell & Associates Ltd. bought a new position in Light & Wonder in the fourth quarter valued at approximately $69,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Light & Wonder by 44.1% in the fourth quarter. Quadrant Capital Group LLC now owns 869 shares of the company’s stock valued at $71,000 after buying an additional 266 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on LNW. Truist Financial raised their price objective on shares of Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Stifel Nicolaus boosted their price target on Light & Wonder from $98.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Mizuho decreased their price objective on Light & Wonder from $83.00 to $79.00 and set an “underperform” rating for the company in a report on Thursday, May 9th. Finally, Susquehanna cut Light & Wonder from a “positive” rating to a “neutral” rating and cut their target price for the company from $111.00 to $95.00 in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.75.

Light & Wonder Stock Up 0.6 %

NASDAQ:LNW opened at $104.55 on Tuesday. Light & Wonder, Inc. has a twelve month low of $67.71 and a twelve month high of $108.90. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 43.38, a price-to-earnings-growth ratio of 0.43 and a beta of 1.79. The company has a quick ratio of 1.72, a current ratio of 1.98 and a debt-to-equity ratio of 4.61. The stock’s 50 day moving average price is $100.38 and its two-hundred day moving average price is $95.44.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.23. Light & Wonder had a net margin of 7.43% and a return on equity of 32.27%. The company had revenue of $756.00 million for the quarter, compared to analyst estimates of $732.01 million. Equities research analysts expect that Light & Wonder, Inc. will post 4.23 earnings per share for the current fiscal year.

About Light & Wonder

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.