Vaughan Nelson Investment Management L.P. Buys New Holdings in Light & Wonder, Inc. $LNW

Vaughan Nelson Investment Management L.P. bought a new stake in Light & Wonder, Inc. (NASDAQ:LNW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 142,880 shares of the company’s stock, valued at approximately $13,754,000. Vaughan Nelson Investment Management L.P. owned about 0.17% of Light & Wonder at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Light & Wonder by 4,783.3% in the first quarter. Versant Capital Management Inc now owns 293 shares of the company’s stock valued at $25,000 after acquiring an additional 287 shares during the last quarter. Farther Finance Advisors LLC raised its position in Light & Wonder by 3,861.1% in the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock valued at $63,000 after purchasing an additional 695 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Light & Wonder in the first quarter valued at about $71,000. CX Institutional purchased a new position in Light & Wonder in the first quarter valued at about $87,000. Finally, US Bancorp DE raised its position in Light & Wonder by 18.7% in 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 period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Stock Down 0.5%

Shares of NASDAQ LNW opened at $84.69 on Friday. Light & Wonder, Inc. has a 1 year low of $69.56 and a 1 year high of $113.94. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 0.51 and a beta of 1.45. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.51 and a current ratio of 1.77. The stock’s 50-day simple moving average is $89.03 and its 200-day simple moving average is $89.23.

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, beating the consensus estimate of $1.44 by $0.14. The firm had revenue of $809.00 million during the quarter, compared to analyst estimates of $851.29 million. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%.Light & Wonder’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share. As a group, equities analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. JPMorgan Chase & Co. lowered Light & Wonder from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $108.00 to $95.00 in a research report on Thursday, August 7th. Wall Street Zen lowered Light & Wonder from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Truist Financial raised their price objective on Light & Wonder from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Benchmark cut their price objective on Light & Wonder from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Finally, Jefferies Financial Group set a $116.00 target price on Light & Wonder in a research report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.88.

Insider Transactions at Light & Wonder

In other news, Director Hamish Mclennan acquired 1,380 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased 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 directly owned 6,380 shares in the company, valued at $558,951.80. This represents a 27.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy Throsby acquired 20,000 shares of the 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 of the company’s stock, valued at $3,760,868.34. The trade was a 90.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 37,756 shares of company stock valued at $3,209,088 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Light & Wonder 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.