Advocate Group LLC Buys Shares of 18,000 Light & Wonder, Inc. $LNW

Advocate Group LLC bought a new stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,000 shares of the company’s stock, valued at approximately $1,733,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Burgundy Asset Management Ltd. lifted its stake in Light & Wonder by 6.9% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,574,589 shares of the company’s stock valued at $136,375,000 after acquiring an additional 102,051 shares during the period. Bessemer Group Inc. lifted its stake in Light & Wonder by 321.7% during the 1st quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company’s stock valued at $136,152,000 after acquiring an additional 1,199,213 shares during the period. Ninety One UK Ltd lifted its stake in Light & Wonder by 56.7% during the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock valued at $101,728,000 after acquiring an additional 425,202 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Light & Wonder by 0.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 901,778 shares of the company’s stock worth $78,104,000 after purchasing an additional 3,472 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Light & Wonder by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 733,888 shares of the company’s stock worth $63,562,000 after purchasing an additional 7,544 shares during the period. Institutional investors own 88.08% of the company’s stock.

Insider Activity at Light & Wonder

In other Light & Wonder news, Director Timothy Throsby bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $89.37 per share, with a total value of $1,787,400.00. Following the completion of the acquisition, the director owned 42,082 shares in the company, valued at $3,760,868.34. This trade represents a 90.57% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hamish Mclennan bought 1,380 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $87.61 per share, with a total value of $120,901.80. Following the completion of the acquisition, the director owned 6,380 shares of the company’s stock, valued at $558,951.80. This represents a 27.60% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 37,756 shares of company stock valued at $3,209,088. Corporate insiders own 2.20% of the company’s stock.

Light & Wonder Price Performance

NASDAQ LNW opened at $79.35 on Friday. Light & Wonder, Inc. has a 12 month low of $69.56 and a 12 month high of $113.94. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 0.48 and a beta of 1.45. The company’s 50 day moving average is $87.39 and its two-hundred day moving average is $88.36. 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 (NASDAQ:LNW) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $809.00 million during the quarter, compared to analyst estimates of $851.29 million. During the same period last year, the firm posted $0.90 EPS. The company’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Light & Wonder from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Zacks Research cut shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Truist Financial increased their price objective on shares of Light & Wonder from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. cut shares of Light & Wonder from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $108.00 to $95.00 in a research note on Thursday, August 7th. Finally, Macquarie lowered their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Light & Wonder currently has an average rating of “Hold” and an average target price of $103.86.

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.