Retirement Systems of Alabama Sells 4,351 Shares of Light & Wonder, Inc. $LNW

Retirement Systems of Alabama lowered its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 103,131 shares of the company’s stock after selling 4,351 shares during the quarter. Retirement Systems of Alabama’s holdings in Light & Wonder were worth $9,927,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Light & Wonder by 0.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock valued at $1,907,000 after acquiring an additional 133 shares in the last quarter. KBC Group NV increased its position in shares of Light & Wonder by 3.8% during the first quarter. KBC Group NV now owns 3,746 shares of the company’s stock valued at $324,000 after acquiring an additional 137 shares in the last quarter. AlphaQuest LLC increased its position in shares of Light & Wonder by 41.8% during the second quarter. AlphaQuest LLC now owns 604 shares of the company’s stock valued at $58,000 after acquiring an additional 178 shares in the last quarter. IFP Advisors Inc increased its position in shares of Light & Wonder by 198.9% during the second quarter. IFP Advisors Inc now owns 269 shares of the company’s stock valued at $26,000 after acquiring an additional 179 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Light & Wonder by 18.7% during the first quarter. US Bancorp DE now owns 1,164 shares of the company’s stock valued at $101,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, Director Timothy Throsby acquired 20,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was purchased at an average price of $89.37 per share, with a total value of $1,787,400.00. Following the transaction, the director directly owned 42,082 shares in the company, valued at approximately $3,760,868.34. The trade was a 90.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Antonia Korsanos acquired 8,065 shares of the business’s stock in a transaction dated Sunday, August 10th. The shares were acquired at an average cost of $80.05 per share, with a total value of $645,603.25. Following the transaction, the director owned 22,815 shares in the company, valued at approximately $1,826,340.75. This trade represents a 54.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 37,756 shares of company stock worth $3,209,088. 2.20% of the stock is currently owned by insiders.

Light & Wonder Trading Up 1.8%

NASDAQ:LNW opened at $72.70 on Monday. 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, Inc. has a 12 month low of $69.56 and a 12 month high of $113.94. The company has a market cap of $6.10 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 0.48 and a beta of 1.45. The company has a 50 day simple moving average of $83.74 and a two-hundred day simple moving average of $87.65.

Light & Wonder (NASDAQ:LNW) last issued 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 firm had revenue of $809.00 million during the quarter, compared to the consensus estimate of $851.29 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts forecast that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LNW shares. Macquarie reduced their price target on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Zacks Research downgraded shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Stifel Nicolaus cut their target price on shares of Light & Wonder from $95.00 to $83.00 and set a “hold” rating for the company in a research report on Tuesday, October 28th. Benchmark cut their target price on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Light & Wonder from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $102.14.

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.