Light & Wonder, Inc. $LNW Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC cut its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 8.4% in the second quarter, Holdings Channel reports. The fund owned 16,161 shares of the company’s stock after selling 1,474 shares during the period. Yousif Capital Management LLC’s holdings in Light & Wonder were worth $1,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc increased its stake in shares of Light & Wonder by 198.9% in the 2nd quarter. IFP Advisors Inc now owns 269 shares of the company’s stock worth $26,000 after acquiring an additional 179 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Light & Wonder by 3,861.1% in the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock worth $63,000 after acquiring an additional 695 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Light & Wonder in the 1st quarter worth $71,000. US Bancorp DE increased its stake in shares of Light & Wonder by 18.7% in the 1st quarter. US Bancorp DE now owns 1,164 shares of the company’s stock worth $101,000 after acquiring an additional 183 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Light & Wonder by 217.8% during the 1st quarter. GAMMA Investing LLC now owns 1,265 shares of the company’s stock worth $110,000 after purchasing an additional 867 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Stock Performance

NASDAQ LNW opened at $76.14 on Monday. The company has a market cap of $6.39 billion, a P/E ratio of 19.23, a P/E/G ratio of 0.46 and a beta of 1.45. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. The stock has a 50-day moving average of $86.59 and a two-hundred day moving average of $87.94. Light & Wonder, Inc. has a 1-year low of $69.56 and a 1-year high of $113.94.

Light & Wonder (NASDAQ:LNW) last released its earnings results 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 company had revenue of $809.00 million during the quarter, compared to the consensus estimate of $851.29 million. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%.Light & Wonder’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. As a group, analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Wall Street Analysts Forecast Growth

LNW has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $116.00 price objective on Light & Wonder in a research report on Wednesday, June 25th. Macquarie cut their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Wall Street Zen downgraded Light & Wonder from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Zacks Research downgraded Light & Wonder from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Finally, Truist Financial raised their price objective on Light & Wonder from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $103.86.

Insider Transactions at Light & Wonder

In related news, Director Hamish Mclennan acquired 1,380 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average price of $87.61 per share, for a total transaction of $120,901.80. Following the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jamie Odell acquired 8,275 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was bought at an average price of $78.81 per share, with a total value of $652,152.75. Following the purchase, the director directly owned 8,275 shares in the company, valued at approximately $652,152.75. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 37,756 shares of company stock valued at $3,209,088. 2.20% of the stock is owned by insiders.

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.