Vanguard Group Inc. Sells 320,906 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Vanguard Group Inc. trimmed its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 3.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,171,618 shares of the company’s stock after selling 320,906 shares during the quarter. Vanguard Group Inc. owned 9.63% of Light & Wonder worth $707,744,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Bessemer Group Inc. increased its stake in Light & Wonder by 321.7% during the 1st quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company’s stock worth $136,152,000 after purchasing an additional 1,199,213 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in Light & Wonder by 2.0% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock worth $127,198,000 after acquiring an additional 28,358 shares during the last quarter. Ninety One UK Ltd boosted its position in Light & Wonder by 56.7% during the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock worth $101,728,000 after acquiring an additional 425,202 shares during the last quarter. Deutsche Bank AG boosted its position in Light & Wonder by 15.6% during the 4th quarter. Deutsche Bank AG now owns 887,492 shares of the company’s stock worth $76,662,000 after acquiring an additional 119,616 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Light & Wonder by 12.9% during the 4th quarter. Northern Trust Corp now owns 727,235 shares of the company’s stock worth $62,819,000 after acquiring an additional 83,150 shares during the last quarter. 88.08% of the stock is owned by institutional investors.

Light & Wonder Trading Up 3.4%

Shares of Light & Wonder stock opened at $86.85 on Wednesday. The business has a fifty day simple moving average of $92.61 and a two-hundred day simple moving average of $91.98. Light & Wonder, Inc. has a 1 year low of $69.56 and a 1 year high of $115.00. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 0.52 and a beta of 1.21. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.14. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%. The business had revenue of $809.00 million during the quarter, compared to the consensus estimate of $851.29 million. During the same quarter last year, the firm posted $0.90 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Research analysts forecast that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Mizuho upped their price target on Light & Wonder from $80.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, May 8th. Truist Financial upped their price target on Light & Wonder from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Wall Street Zen downgraded Light & Wonder from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Jefferies Financial Group set a $116.00 price target on Light & Wonder in a research report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. downgraded Light & Wonder from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $108.00 to $95.00 in a research report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $108.10.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, Director Jamie Odell purchased 8,275 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was acquired at an average price of $78.81 per share, with a total value of $652,152.75. Following the acquisition, the director directly owned 8,275 shares of the company’s stock, valued at $652,152.75. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Antonia Korsanos purchased 8,065 shares of the business’s stock in a transaction on 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 acquisition, the director directly owned 22,815 shares in the company, valued at approximately $1,826,340.75. The trade was a 54.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 16,376 shares of company stock valued at $1,300,786 in the last ninety days. Insiders own 2.20% of the company’s stock.

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.