Light & Wonder, Inc. $LNW Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lowered its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 45.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 340,276 shares of the company's stock after selling 284,659 shares during the quarter. AQR Capital Management LLC owned approximately 0.40% of Light & Wonder worth $29,179,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of LNW. Bessemer Group Inc. raised its stake in Light & Wonder by 321.7% in the 1st quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock valued at $136,152,000 after purchasing an additional 1,199,213 shares during the last quarter. Ninety One UK Ltd lifted its stake in shares of Light & Wonder by 56.7% during the first quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company's stock valued at $101,728,000 after buying an additional 425,202 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Light & Wonder during the first quarter valued at approximately $32,843,000. Broad Peak Investment Advisers Pte Ltd purchased a new position in shares of Light & Wonder during the first quarter valued at approximately $20,960,000. Finally, Nuveen LLC purchased a new position in shares of Light & Wonder during the first quarter valued at approximately $17,425,000. Hedge funds and other institutional investors own 88.08% of the company's stock.

Light & Wonder Stock Up 0.3%

NASDAQ LNW traded up $0.26 during trading hours on Friday, hitting $88.69. The company had a trading volume of 431,873 shares, compared to its average volume of 959,973. Light & Wonder, Inc. has a fifty-two week low of $69.56 and a fifty-two week high of $115.00. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 0.54 and a beta of 1.18. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. The firm's 50 day moving average is $92.85 and its 200 day moving average is $91.41.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.14. The company had revenue of $809.00 million for 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 quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Sell-side analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Antonia Korsanos purchased 8,065 shares of Light & Wonder stock in a transaction that occurred on Sunday, August 10th. The shares were purchased at an average cost of $80.05 per share, with a total value of $645,603.25. Following the transaction, the director 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hamish Mclennan purchased 1,380 shares of Light & Wonder stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average cost of $87.61 per share, for a total transaction of $120,901.80. Following the completion of the transaction, the director directly owned 6,380 shares in the company, valued at $558,951.80. This represents a 27.60% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 37,756 shares of company stock valued at $3,209,088. Insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

LNW has been the topic of a number of recent analyst reports. Truist Financial increased their price target on Light & Wonder from $110.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. 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 report on Thursday, August 7th. Zacks Research lowered shares of Light & Wonder from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Jefferies Financial Group set a $116.00 price objective on shares of Light & Wonder in a report on Wednesday, June 25th. Finally, Macquarie cut their price target on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Light & Wonder presently has a consensus rating of "Moderate Buy" and an average target price of $104.11.

Light & Wonder 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.