Light & Wonder, Inc. $LNW Stock Holdings Decreased by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in Light & Wonder, Inc. by 20.4% during Q1, selling 7,300 shares and now holding a total of 28,454 shares worth approximately $2.46 million.
• Bessemer Group Inc. increased its holdings by 321.7% during the same period, now owning 1,572,022 shares valued at around $136.15 million.
• Insider activity included significant purchases by directors Antonia Korsanos and Timothy Throsby, increasing their holdings by 54.68% and 90.57% respectively over recent weeks.

Algert Global LLC reduced its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,454 shares of the company's stock after selling 7,300 shares during the period. Algert Global LLC's holdings in Light & Wonder were worth $2,464,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its holdings 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 during the period. Park West Asset Management LLC acquired a new stake in shares of Light & Wonder during the fourth quarter worth approximately $46,241,000. Ninety One UK Ltd boosted its holdings 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 during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Light & Wonder during the first quarter worth approximately $32,843,000. Finally, Broad Peak Investment Advisers Pte Ltd acquired a new stake in shares of Light & Wonder during the first quarter worth approximately $20,960,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Light & Wonder

In related news, Director Antonia Korsanos bought 8,065 shares of the company's stock in a transaction that occurred on Sunday, August 10th. The shares were acquired at an average price of $80.05 per share, with a total value of $645,603.25. Following the completion of the transaction, the director owned 22,815 shares of the company's stock, valued at $1,826,340.75. The trade was a 54.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy Throsby bought 20,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average cost of $89.37 per share, for a total transaction of $1,787,400.00. Following the transaction, the director directly owned 42,082 shares of the company's stock, valued at $3,760,868.34. This trade represents a 90.57% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 37,756 shares of company stock worth $3,209,088. 2.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on LNW. Wall Street Zen cut shares of Light & Wonder from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. JPMorgan Chase & Co. cut shares of Light & Wonder from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $108.00 to $95.00 in a report on Thursday, August 7th. Benchmark decreased their price target on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating for the company in a report on Friday, August 8th. Truist Financial raised their price target on shares of Light & Wonder from $110.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, Macquarie reduced their target price 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. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $108.10.

Light & Wonder Price Performance

Shares of Light & Wonder stock opened at $90.02 on Thursday. The firm has a fifty day simple moving average of $92.79 and a 200-day simple moving average of $91.99. The company has a current ratio of 1.77, a quick ratio of 1.51 and a debt-to-equity ratio of 6.86. Light & Wonder, Inc. has a 1-year low of $69.56 and a 1-year high of $115.00. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 0.55 and a beta of 1.21.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, topping 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 business had revenue of $809.00 million during the quarter, compared to analysts' expectations of $851.29 million. During the same period in the previous year, the company earned $0.90 earnings per share. Light & Wonder's revenue for the quarter was down 1.1% on a year-over-year basis. On average, sell-side analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

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.

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