Algert Global LLC Sells 7,300 Shares of Light & Wonder, Inc. $LNW

Algert Global LLC lessened its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 20.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,454 shares of the company’s stock after selling 7,300 shares during the quarter. Algert Global LLC’s holdings in Light & Wonder were worth $2,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LNW. LPL Financial LLC increased its holdings in Light & Wonder by 12.2% in the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company’s stock valued at $231,000 after buying an additional 291 shares during the period. Dimensional Fund Advisors LP increased its holdings in Light & Wonder by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 725,637 shares of the company’s stock valued at $62,677,000 after buying an additional 33,684 shares during the period. MetLife Investment Management LLC increased its holdings in Light & Wonder by 7.4% in the 4th quarter. MetLife Investment Management LLC now owns 53,687 shares of the company’s stock valued at $4,637,000 after buying an additional 3,696 shares during the period. Tower Research Capital LLC TRC increased its holdings in Light & Wonder by 8.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,368 shares of the company’s stock valued at $636,000 after buying an additional 563 shares during the period. Finally, Pinebridge Investments L.P. increased its holdings in Light & Wonder by 44.3% in the 4th quarter. Pinebridge Investments L.P. now owns 26,815 shares of the company’s stock valued at $2,316,000 after buying an additional 8,231 shares during the period. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Down 1.5%

LNW opened at $90.02 on Thursday. The firm’s 50-day simple moving average is $92.79 and its 200-day simple moving average is $91.99. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.51 and a current ratio of 1.77. 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 $7.56 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 0.55 and a beta of 1.21.

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

Insider Activity at Light & Wonder

In related news, Director Antonia Korsanos purchased 8,065 shares of Light & Wonder stock in a transaction that occurred on Sunday, August 10th. The shares were acquired at an average price of $80.05 per share, for a total transaction of $645,603.25. Following the transaction, the director directly owned 22,815 shares in the company, valued at approximately $1,826,340.75. This represents a 54.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Hamish Mclennan purchased 1,380 shares of Light & Wonder stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $87.61 per share, for a total transaction of $120,901.80. Following the transaction, the director 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 disclosure for this purchase can be found here. Insiders have acquired 37,756 shares of company stock worth $3,209,088 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on LNW shares. Benchmark lowered their price target on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Macquarie lowered their price target on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Wall Street Zen lowered shares of Light & Wonder from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a report on Wednesday, June 25th. Finally, Stifel Nicolaus upped their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.10.

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.