Louisiana State Employees Retirement System Sells 1,000 Shares of Light & Wonder, Inc. $LNW

Louisiana State Employees Retirement System reduced its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 4.0% in the 2nd quarter, Holdings Channel reports. The firm owned 23,700 shares of the company’s stock after selling 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Light & Wonder were worth $2,281,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Light & Wonder by 0.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock worth $1,907,000 after purchasing an additional 133 shares during the last quarter. Simon Quick Advisors LLC raised its position in Light & Wonder by 2.9% during the 1st quarter. Simon Quick Advisors LLC now owns 4,752 shares of the company’s stock worth $412,000 after purchasing an additional 136 shares during the last quarter. KBC Group NV raised its position in Light & Wonder by 3.8% during the 1st quarter. KBC Group NV now owns 3,746 shares of the company’s stock worth $324,000 after purchasing an additional 137 shares during the last quarter. US Bancorp DE raised its position in Light & Wonder by 18.7% during the 1st quarter. US Bancorp DE now owns 1,164 shares of the company’s stock worth $101,000 after purchasing an additional 183 shares during the last quarter. Finally, State of Michigan Retirement System raised its position in Light & Wonder by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 21,099 shares of the company’s stock worth $1,827,000 after purchasing an additional 200 shares during the last quarter. 88.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LNW has been the subject of several analyst reports. Wall Street Zen lowered Light & Wonder from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Light & Wonder in a report on Wednesday. JPMorgan Chase & Co. downgraded Light & Wonder from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $108.00 to $95.00 in a report on Thursday, August 7th. Jefferies Financial Group set a $116.00 price target on Light & Wonder in a report on Wednesday, June 25th. Finally, Benchmark decreased their price target on Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $103.86.

Light & Wonder Stock Performance

Shares of LNW opened at $79.35 on Friday. 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 $87.39 and a 200-day moving average of $88.48. The company has a market cap of $6.66 billion, a PE ratio of 20.04, a P/E/G ratio of 0.49 and a beta of 1.45. Light & Wonder, Inc. has a one year low of $69.56 and a one year high of $113.94.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Wednesday, August 6th. The company reported $1.58 EPS 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%.The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.90 EPS. On average, equities research analysts predict that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Insider Transactions at Light & Wonder

In other news, Director Hamish Mclennan bought 1,380 shares of Light & Wonder stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $87.61 per share, for a total transaction of $120,901.80. Following the purchase, the director directly owned 6,380 shares in the company, valued at approximately $558,951.80. This represents a 27.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antonia Korsanos bought 8,065 shares of Light & Wonder stock in a transaction dated Sunday, August 10th. The stock was purchased at an average price of $80.05 per share, with a total value of $645,603.25. Following the completion of the purchase, the director owned 22,815 shares in the company, valued at $1,826,340.75. This trade represents a 54.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 37,756 shares of company stock valued at $3,209,088. 2.20% of the stock is currently owned by corporate 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.