XTX Topco Ltd Sells 8,314 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

XTX Topco Ltd trimmed its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 77.2% in the first quarter, Holdings Channel reports. The firm owned 2,462 shares of the company’s stock after selling 8,314 shares during the quarter. XTX Topco Ltd’s holdings in Light & Wonder were worth $213,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd bought a new position in Light & Wonder in the first quarter valued at approximately $71,000. Federated Hermes Inc. boosted its stake in shares of Light & Wonder by 2.6% during the 1st quarter. Federated Hermes Inc. now owns 36,224 shares of the company’s stock worth $3,137,000 after acquiring an additional 913 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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 acquiring an additional 133 shares during the period. Oak Thistle LLC bought a new position in shares of Light & Wonder during the 1st quarter worth approximately $3,895,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Light & Wonder during the 1st quarter worth approximately $855,000. 88.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on LNW shares. Wall Street Zen downgraded Light & Wonder from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Jefferies Financial Group set a $116.00 target price on Light & Wonder in a research note on Wednesday, June 25th. Benchmark reduced their target price on Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Stifel Nicolaus lifted their target price on Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. downgraded Light & Wonder from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $108.00 to $95.00 in a research note on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.10.

Light & Wonder Stock Performance

NASDAQ:LNW opened at $86.85 on Wednesday. The stock has a market cap of $7.29 billion, a P/E ratio of 21.93, a PEG ratio of 0.52 and a beta of 1.21. The stock has a 50 day simple moving average of $92.61 and a 200 day simple moving average of $91.98. 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 1-year low of $69.56 and a 1-year high of $115.00.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.14. The business had revenue of $809.00 million during the quarter, compared to analysts’ expectations 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 firm posted $0.90 EPS. Research analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Insider Buying and Selling at Light & Wonder

In related news, Director Antonia Korsanos acquired 8,065 shares of the company’s stock in a transaction on Sunday, August 10th. The stock was purchased 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 of the company’s stock, valued at approximately $1,826,340.75. The trade was a 54.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jamie Odell acquired 8,275 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was bought at an average cost of $78.81 per share, with a total value of $652,152.75. Following the completion of the acquisition, the director directly owned 8,275 shares in the company, valued at approximately $652,152.75. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 16,376 shares of company stock valued at $1,300,786 over 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.