Gotham Asset Management LLC Sells 3,644 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Gotham Asset Management LLC reduced its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 24.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,524 shares of the company's stock after selling 3,644 shares during the period. Gotham Asset Management LLC's holdings in Light & Wonder were worth $995,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in Light & Wonder in the fourth quarter worth $91,683,000. Park West Asset Management LLC purchased a new position in Light & Wonder in the fourth quarter worth $46,241,000. Bank of Nova Scotia purchased a new position in Light & Wonder in the fourth quarter worth $16,020,000. Engine Capital Management LP grew its position in Light & Wonder by 1,110.0% in the fourth quarter. Engine Capital Management LP now owns 175,524 shares of the company's stock worth $15,162,000 after acquiring an additional 161,018 shares in the last quarter. Finally, Invesco Ltd. grew its position in Light & Wonder by 37.0% in the fourth quarter. Invesco Ltd. now owns 587,809 shares of the company's stock worth $50,775,000 after acquiring an additional 158,790 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Light & Wonder Trading Down 0.1%

Shares of NASDAQ:LNW traded down $0.05 during midday trading on Wednesday, hitting $82.46. 1,372,422 shares of the stock traded hands, compared to its average volume of 811,463. The stock has a market capitalization of $6.96 billion, a PE ratio of 25.61, a P/E/G ratio of 0.35 and a beta of 1.30. The business's 50 day moving average is $87.97 and its two-hundred day moving average is $92.00. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00.

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

Insider Buying and Selling

In related news, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $104.41, for a total value of $118,192.12. Following the completion of the transaction, the chief accounting officer now directly owns 5,016 shares of the company's stock, valued at $523,720.56. This represents a 18.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Oliver Chow sold 2,595 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $104.94, for a total transaction of $272,319.30. Following the completion of the transaction, the chief financial officer now directly owns 3,695 shares of the company's stock, 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 sold a total of 9,867 shares of company stock valued at $1,037,884 over the last three months. Corporate insiders own 2.20% of the company's stock.

Wall Street Analyst Weigh In

LNW has been the subject of several recent research reports. Truist Financial lowered 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 note on Wednesday, April 23rd. Benchmark lowered their price target on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Citigroup raised shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. Mizuho boosted their price target 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Light & Wonder has an average rating of "Moderate Buy" and an average price target 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.