Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC cut its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 24.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,524 shares of the company's stock after selling 3,644 shares during the quarter. Gotham Asset Management LLC's holdings in Light & Wonder were worth $995,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LNW. Norges Bank bought a new position in Light & Wonder in the fourth quarter valued at about $91,683,000. Park West Asset Management LLC bought a new stake in Light & Wonder in the fourth quarter worth approximately $46,241,000. Bank of Nova Scotia acquired a new stake in Light & Wonder in the fourth quarter valued at approximately $16,020,000. Engine Capital Management LP grew its stake 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 valued at $15,162,000 after acquiring an additional 161,018 shares during the period. Finally, Invesco Ltd. grew its stake in Light & Wonder by 37.0% in the fourth quarter. Invesco Ltd. now owns 587,809 shares of the company's stock valued at $50,775,000 after acquiring an additional 158,790 shares during the period. 88.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Light & Wonder news, CEO Siobhan Lane sold 3,784 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the completion of the sale, the chief executive officer now owns 21,254 shares in the company, valued at $2,239,533.98. This represents a 15.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total value of $118,192.12. Following the sale, the chief accounting officer now owns 5,016 shares of the company's stock, valued at approximately $523,720.56. This represents a 18.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock valued at $1,037,884 over the last ninety days. 2.20% of the stock is owned by insiders.

Light & Wonder Stock Performance

Shares of LNW traded up $4.00 during trading hours on Friday, hitting $86.01. The stock had a trading volume of 1,361,030 shares, compared to its average volume of 814,937. The firm has a market capitalization of $7.26 billion, a PE ratio of 26.71, a PEG ratio of 0.35 and a beta of 1.30. 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 fifty day moving average price of $86.74 and a 200 day moving average price of $91.78. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $802.93 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Light & Wonder's revenue was up 2.4% on a year-over-year basis. Analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Analysts Set New Price Targets

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

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.