Light & Wonder, Inc. (NASDAQ:LNW) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 33.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,769 shares of the company’s stock after purchasing an additional 4,985 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Light & Wonder were worth $1,623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LNW. Charles Schwab Investment Management Inc. boosted its holdings in Light & Wonder by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,251,206 shares of the company’s stock valued at $89,249,000 after purchasing an additional 231,631 shares during the period. Moody Aldrich Partners LLC acquired a new stake in Light & Wonder in the fourth quarter valued at $6,848,000. Barclays PLC raised its stake in Light & Wonder by 95.8% in the third quarter. Barclays PLC now owns 168,548 shares of the company’s stock valued at $12,021,000 after buying an additional 82,460 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Light & Wonder by 0.5% during the 3rd 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 last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Light & Wonder during the 3rd quarter worth about $2,879,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Light & Wonder Trading Down 0.6 %

Shares of LNW stock opened at $93.55 on Thursday. Light & Wonder, Inc. has a 1-year low of $56.01 and a 1-year high of $108.90. The firm’s 50-day simple moving average is $97.48 and its 200-day simple moving average is $87.08. The firm has a market cap of $8.40 billion, a P/E ratio of 53.15 and a beta of 1.78. 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 (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 return on equity of 23.68% and a net margin of 5.58%. The company had revenue of $770.00 million for the quarter, compared to analysts’ expectations of $748.30 million. During the same period in the prior year, the business earned $0.12 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that Light & Wonder, Inc. will post 3.78 EPS for the current year.

Insider Activity at Light & Wonder

In other news, CAO Vanja Kalabic sold 1,149 shares of Light & Wonder 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 transaction, the chief accounting officer now directly owns 1,600 shares of the company’s stock, valued at approximately $161,152. The transaction was disclosed in a 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 firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $100.72, for a total value of $115,727.28. Following the transaction, the chief accounting officer now owns 1,600 shares of the company’s stock, valued at approximately $161,152. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP James Sottile sold 1,549 shares of Light & Wonder stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $101.15, for a total transaction of $156,681.35. Following the transaction, the vice president now owns 57,478 shares in the company, valued at approximately $5,813,899.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,537 shares of company stock worth $760,427. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on LNW. Mizuho started coverage on Light & Wonder in a research report on Tuesday, March 26th. They set an “underperform” rating and a $83.00 target price on the stock. 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 price target for the stock from $105.00 to $110.00 in a research note on Monday, March 11th. Macquarie boosted their price objective on shares of Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Light & Wonder presently has an average rating of “Moderate Buy” and an average price target of $96.75.

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.