Light & Wonder, Inc. (NASDAQ:LNW) Shares Bought by Engine Capital Management LP

Engine Capital Management LP boosted its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 1,110.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,524 shares of the company's stock after acquiring an additional 161,018 shares during the period. Light & Wonder accounts for 2.8% of Engine Capital Management LP's holdings, making the stock its 12th biggest position. Engine Capital Management LP owned 0.20% of Light & Wonder worth $15,162,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LNW. R Squared Ltd acquired a new position in Light & Wonder during the 4th quarter valued at approximately $35,000. Blue Trust Inc. increased its stake in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after purchasing an additional 474 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Light & Wonder during the 4th quarter valued at approximately $224,000. Farringdon Capital Ltd. acquired a new position in Light & Wonder during the 4th quarter valued at approximately $230,000. Finally, LPL Financial LLC increased its stake in Light & Wonder by 12.2% during the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company's stock valued at $231,000 after purchasing an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company's stock.

Light & Wonder Price Performance

Shares of NASDAQ:LNW traded up $2.56 during trading on Tuesday, reaching $88.69. 913,004 shares of the company's stock traded hands, compared to its average volume of 806,897. Light & Wonder, Inc. has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The firm has a market cap of $7.48 billion, a PE ratio of 27.54, a P/E/G ratio of 0.35 and a beta of 1.30. The company has a 50-day simple moving average of $90.19 and a 200-day simple moving average of $92.42.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. The business had revenue of $774.00 million for the quarter, compared to analyst estimates of $802.93 million. During the same quarter last year, the business earned $0.88 earnings per share. Light & Wonder's revenue was up 2.4% on a year-over-year basis. As a group, analysts predict that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Insider Activity

In other news, VP James Sottile sold 2,356 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the sale, the vice president now directly owns 77,331 shares in the company, valued at $8,161,513.74. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Oliver Chow sold 2,595 shares of Light & Wonder stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $104.94, for a total value of $272,319.30. Following the completion of the sale, the chief financial officer now owns 3,695 shares in the company, valued at approximately $387,753.30. The trade was a 41.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock worth $1,037,884 in the last ninety days. Company insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LNW shares. Macquarie cut their price target on shares of Light & Wonder from $125.00 to $120.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Jefferies Financial Group increased their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Benchmark cut their price objective on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday. Stifel Nicolaus increased their price objective on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Mizuho increased their price objective on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Light & Wonder currently has an average rating of "Moderate Buy" and a consensus target price of $106.82.

Light & Wonder Company 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.