Duality Advisers LP Decreases Position in Light & Wonder, Inc. (NASDAQ:LNW)

Duality Advisers LP decreased its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 63.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,899 shares of the company’s stock after selling 5,016 shares during the quarter. Duality Advisers LP’s holdings in Light & Wonder were worth $238,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LNW. Charles Schwab Investment Management Inc. increased its position in Light & Wonder by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,251,206 shares of the company’s stock worth $89,249,000 after buying an additional 231,631 shares during the period. Moody Aldrich Partners LLC acquired a new position in Light & Wonder during the fourth quarter worth approximately $6,848,000. Barclays PLC increased its position in Light & Wonder by 95.8% during the third quarter. Barclays PLC now owns 168,548 shares of the company’s stock worth $12,021,000 after buying an additional 82,460 shares during the period. Vanguard Group Inc. increased its position in Light & Wonder by 0.5% during the third quarter. Vanguard Group Inc. now owns 9,152,926 shares of the company’s stock worth $652,878,000 after buying an additional 46,751 shares during the period. Finally, Stifel Financial Corp acquired a new position in Light & Wonder during the third quarter worth approximately $2,879,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Insider Activity at Light & Wonder

In related news, CFO Oliver Chow sold 1,273 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $101.19, for a total value of $128,814.87. Following the completion of the transaction, the chief financial officer now directly owns 1,517 shares in the company, valued at $153,505.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Vanja Kalabic sold 1,149 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $100.72, for a total value of $115,727.28. Following the completion of the sale, the chief accounting officer now owns 1,600 shares in the company, valued at $161,152. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Oliver Chow sold 1,273 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $101.19, for a total value of $128,814.87. Following the completion of the sale, the chief financial officer now owns 1,517 shares of the company’s stock, valued at approximately $153,505.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,537 shares of company stock worth $760,427. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on LNW shares. Mizuho started coverage on Light & Wonder in a research report on Tuesday, March 26th. They set an “underperform” rating and a $83.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on Light & Wonder from $98.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Stifel Nicolaus reissued a “hold” rating and issued a $103.00 target price (up previously from $97.00) on shares of Light & Wonder in a report on Thursday, March 14th. Redburn Atlantic lowered Light & Wonder from a “buy” rating to a “neutral” rating and boosted their target price for the company from $105.00 to $110.00 in a report on Monday, March 11th. Finally, Susquehanna boosted their target price on Light & Wonder from $100.00 to $111.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.75.

Light & Wonder Stock Down 1.7 %

Light & Wonder stock opened at $91.31 on Friday. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.88 and a quick ratio of 1.63. Light & Wonder, Inc. has a 1-year low of $56.01 and a 1-year high of $108.90. The company has a market cap of $8.25 billion, a PE ratio of 51.88 and a beta of 1.78. The stock’s 50 day moving average price is $97.59 and its 200 day moving average price is $87.25.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). Light & Wonder had a net margin of 5.58% and a return on equity of 23.68%. The business had revenue of $770.00 million during the quarter, compared to analysts’ expectations of $748.30 million. During the same quarter last year, the firm earned $0.12 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict that Light & Wonder, Inc. will post 3.78 EPS for the current fiscal year.

Light & Wonder Profile

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.