American International Group Inc. Reduces Stake in Light & Wonder, Inc. (NASDAQ:LNW)

American International Group Inc. reduced its stake in Light & Wonder, Inc. (NASDAQ:LNWFree Report) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 166,323 shares of the company’s stock after selling 6,898 shares during the quarter. American International Group Inc. owned approximately 0.18% of Light & Wonder worth $13,657,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LNW. Headlands Technologies LLC acquired a new position in Light & Wonder during the 3rd quarter worth about $31,000. DekaBank Deutsche Girozentrale acquired a new position in Light & Wonder during the 3rd quarter worth about $36,000. USA Financial Formulas purchased a new stake in Light & Wonder during the 4th quarter worth about $62,000. Quadrant Capital Group LLC increased its holdings in Light & Wonder by 44.1% during the 4th quarter. Quadrant Capital Group LLC now owns 869 shares of the company’s stock worth $71,000 after purchasing an additional 266 shares during the period. Finally, KBC Group NV purchased a new stake in Light & Wonder during the 4th quarter worth about $153,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LNW has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Mizuho dropped their price objective on Light & Wonder from $83.00 to $79.00 and set an “underperform” rating on the stock in a report on Thursday, May 9th. Susquehanna downgraded Light & Wonder from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $111.00 to $95.00 in a research note on Friday, May 10th. Stifel Nicolaus restated a “hold” rating and set a $103.00 price target (up previously from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th. Finally, Truist Financial raised their price target on Light & Wonder from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $95.08.

Check Out Our Latest Research Report on Light & Wonder

Light & Wonder Price Performance

LNW stock traded up $0.28 during midday trading on Thursday, hitting $99.87. 590,266 shares of the stock were exchanged, compared to its average volume of 614,006. The stock’s 50-day moving average price is $94.65 and its 200-day moving average price is $90.63. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 41.44 and a beta of 1.75. Light & Wonder, Inc. has a fifty-two week low of $62.16 and a fifty-two week high of $108.90. The company has a debt-to-equity ratio of 4.61, a quick ratio of 1.72 and a current ratio of 1.98.

Light & Wonder (NASDAQ:LNWGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.23. The firm had revenue of $756.00 million during the quarter, compared to analysts’ expectations of $732.01 million. Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. Research analysts predict that Light & Wonder, Inc. will post 4.2 earnings per share for the current year.

Light & Wonder Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Light & Wonder (NASDAQ:LNW)

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