Graham Capital Management L.P. Acquires Shares of 3,871 Light & Wonder, Inc. (NASDAQ:LNW)

Graham Capital Management L.P. purchased a new stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,871 shares of the company's stock, valued at approximately $334,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Barclays PLC lifted its stake in shares of Light & Wonder by 539.6% in the third quarter. Barclays PLC now owns 155,852 shares of the company's stock worth $14,142,000 after buying an additional 131,486 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Light & Wonder by 2.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 21,858 shares of the company's stock valued at $1,888,000 after acquiring an additional 458 shares in the last quarter. Blue Trust Inc. lifted its position in Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after acquiring an additional 474 shares in the last quarter. KBC Group NV lifted its position in Light & Wonder by 57.3% in the 4th quarter. KBC Group NV now owns 3,609 shares of the company's stock valued at $312,000 after acquiring an additional 1,315 shares in the last quarter. Finally, R Squared Ltd bought a new position in Light & Wonder in the 4th quarter valued at approximately $35,000. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Stock Performance

LNW stock traded up $4.00 during midday trading on Friday, reaching $86.01. 1,361,030 shares of the company's stock traded hands, compared to its average volume of 814,937. Light & Wonder, Inc. has a 52-week low of $75.46 and a 52-week high of $115.00. The stock has a market cap of $7.26 billion, a P/E ratio of 26.71, a PEG ratio of 0.35 and a beta of 1.30. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The stock's 50-day moving average is $86.74 and its 200 day moving average is $91.78.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced 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 analysts' expectations of $802.93 million. During the same period in the prior year, the company posted $0.88 earnings per share. The firm's quarterly revenue was up 2.4% on a year-over-year basis. As a group, analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Insider Transactions at Light & Wonder

In related news, CEO Siobhan Lane sold 3,784 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total transaction of $398,720.08. Following the completion of the transaction, the chief executive officer now owns 21,254 shares in the company, valued at approximately $2,239,533.98. This represents a 15.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $118,192.12. Following the transaction, 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 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 Analysts Forecast Growth

LNW has been the topic of several analyst reports. Macquarie lowered their price objective on Light & Wonder from $125.00 to $120.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. Truist Financial lowered their price objective 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. Mizuho upped their price objective 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, JPMorgan Chase & Co. increased their price objective 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.