Invesco Ltd. Sells 436,314 Shares of Light & Wonder, Inc. $LNW

Key Points

• Invesco Ltd. has cut its holdings in Light & Wonder, Inc. by 74.2%, now owning approximately 0.18% of the company with 151,495 shares, valued at $13.12 million.
• Several institutional investors have increased their stakes in Light & Wonder, with US Bancorp DE making the largest increase at 18.7% during the first quarter.
• Light & Wonder recently reported earnings of $1.58 per share, exceeding analysts' estimates but showing a 1.1% year-over-year revenue decline.

Invesco Ltd. trimmed its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 74.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,495 shares of the company's stock after selling 436,314 shares during the quarter. Invesco Ltd. owned approximately 0.18% of Light & Wonder worth $13,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in shares of Light & Wonder by 321.7% during the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock worth $136,152,000 after purchasing an additional 1,199,213 shares in the last quarter. Ninety One UK Ltd lifted its position 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 worth $101,728,000 after purchasing an additional 425,202 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Light & Wonder by 63.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,191 shares of the company's stock worth $363,000 after purchasing an additional 1,632 shares in the last quarter. Calamos Wealth Management LLC acquired a new position in shares of Light & Wonder during the first quarter worth approximately $294,000. Finally, Penserra Capital Management LLC boosted its holdings in Light & Wonder by 463.6% in the first quarter. Penserra Capital Management LLC now owns 12,738 shares of the company's stock valued at $1,102,000 after acquiring an additional 10,478 shares during the last quarter. 88.08% of the stock is owned by institutional investors.

Light & Wonder Stock Down 0.9%

LNW traded down $0.80 during trading on Wednesday, reaching $93.28. The company had a trading volume of 798,141 shares, compared to its average volume of 959,163. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. Light & Wonder, Inc. has a 12 month low of $69.56 and a 12 month high of $115.00. The business's fifty day moving average price is $93.41 and its 200 day moving average price is $92.17. The company has a market cap of $7.83 billion, a P/E ratio of 23.56, a PEG ratio of 0.57 and a beta of 1.21.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.14. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The firm had revenue of $809.00 million for the quarter, compared to analyst estimates of $851.29 million. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The business's revenue was down 1.1% on a year-over-year basis. Equities analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, Director Hamish Mclennan acquired 1,380 shares of the stock in a transaction dated 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 acquisition, the director directly owned 6,380 shares of the company's stock, valued at approximately $558,951.80. This trade represents a 27.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jamie Odell acquired 8,275 shares of the stock in a transaction dated Thursday, August 7th. The stock was acquired at an average price of $78.81 per share, for a total transaction of $652,152.75. Following the completion of the acquisition, the director directly owned 8,275 shares of the company's stock, valued at $652,152.75. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 37,756 shares of company stock valued at $3,209,088 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LNW shares. Stifel Nicolaus raised their price target on Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Macquarie dropped their price target on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Zacks Research cut 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 target price on shares of Light & Wonder in a research note on Wednesday, June 25th. Finally, Benchmark reduced their price target on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $104.11.

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.