Optimize Financial Inc Purchases 1,689 Shares of Light & Wonder, Inc. $LNW

Optimize Financial Inc raised its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 33.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,721 shares of the company’s stock after acquiring an additional 1,689 shares during the quarter. Optimize Financial Inc’s holdings in Light & Wonder were worth $582,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its position in Light & Wonder by 4,783.3% during the 1st quarter. Versant Capital Management Inc now owns 293 shares of the company’s stock valued at $25,000 after acquiring an additional 287 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Light & Wonder by 3,861.1% during the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock valued at $63,000 after acquiring an additional 695 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Light & Wonder during the 1st quarter valued at approximately $71,000. CX Institutional bought a new stake in Light & Wonder during the 1st quarter valued at approximately $87,000. Finally, US Bancorp DE lifted its holdings in shares of Light & Wonder by 18.7% during 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. 88.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on LNW. Wall Street Zen lowered shares of Light & Wonder from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Benchmark lowered their target price on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 8th. JPMorgan Chase & Co. lowered shares of Light & Wonder from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $108.00 to $95.00 in a report on Thursday, August 7th. Truist Financial lifted their target price on shares of Light & Wonder from $110.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Finally, Macquarie lowered their target price on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $104.11.

Light & Wonder Price Performance

Shares of NASDAQ LNW opened at $89.50 on Tuesday. Light & Wonder, Inc. has a twelve month low of $69.56 and a twelve month high of $115.00. The firm has a market cap of $7.51 billion, a P/E ratio of 22.60, a PEG ratio of 0.54 and a beta of 1.18. The company has a 50 day moving average of $93.44 and a 200 day moving average of $91.54. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The company had revenue of $809.00 million during the quarter, compared to analyst estimates of $851.29 million. During the same period in the previous year, the business earned $0.90 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, research analysts expect that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Insider Activity

In related news, Director Hamish Mclennan bought 1,380 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $87.61 per share, for a total transaction of $120,901.80. Following the purchase, the director owned 6,380 shares in the company, valued at approximately $558,951.80. This represents a 27.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy Throsby bought 20,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were bought at an average price of $89.37 per share, with a total value of $1,787,400.00. Following the completion of the purchase, the director owned 42,082 shares in the company, valued at approximately $3,760,868.34. The trade was a 90.57% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 37,756 shares of company stock valued at $3,209,088 in the last quarter. Insiders own 2.20% of the company’s stock.

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.