Bank of America Corp DE Sells 150,107 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Bank of America Corp DE trimmed its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 82.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,863 shares of the company's stock after selling 150,107 shares during the period. Bank of America Corp DE's holdings in Light & Wonder were worth $2,666,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Aristeia Capital L.L.C. purchased a new position in shares of Light & Wonder during the 4th quarter valued at $439,000. Park West Asset Management LLC purchased a new position in shares of Light & Wonder during the 4th quarter valued at $46,241,000. AQR Capital Management LLC grew its position in shares of Light & Wonder by 12.0% during the 4th quarter. AQR Capital Management LLC now owns 624,935 shares of the company's stock valued at $53,982,000 after purchasing an additional 67,147 shares in the last quarter. Northern Trust Corp grew its position in shares of Light & Wonder by 12.9% during the 4th quarter. Northern Trust Corp now owns 727,235 shares of the company's stock valued at $62,819,000 after purchasing an additional 83,150 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new position in shares of Light & Wonder during the 4th quarter valued at $342,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on LNW shares. Stifel Nicolaus boosted their price target on shares of Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Mizuho boosted their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research report on Thursday, May 8th. Truist Financial reduced their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $106.82.

Light & Wonder Trading Down 0.9%

Light & Wonder stock traded down $0.80 during mid-day trading on Thursday, hitting $85.80. The company's stock had a trading volume of 1,174,589 shares, compared to its average volume of 828,506. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 0.35 and a beta of 1.23. The business has a 50 day moving average price of $84.46 and a 200-day moving average price of $91.17. Light & Wonder, Inc. has a 12 month low of $75.46 and a 12 month high of $115.00.

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

Insiders Place Their Bets

In other Light & Wonder news, CFO Oliver Chow sold 2,595 shares of the business's stock in a transaction on Friday, March 7th. The shares were 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 directly owns 3,695 shares of the company's stock, valued at $387,753.30. The trade was a 41.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by insiders.

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.