Light & Wonder, Inc. (NASDAQ:LNW) Stock Position Lessened by Swiss National Bank

Key Points

• Swiss National Bank has reduced its holdings in Light & Wonder, Inc. by 2.0%, owning now 171,000 shares worth approximately $14.8 million.
• Institutional investors collectively hold 88.08% of the company's stock, with notable increases in holdings by several firms including Bessemer Group, which lifted its stake by 321.7%.
• The stock is currently priced at $88.52, and after the latest earnings report, it surpassed EPS expectations but showed a slight year-over-year revenue decline of 1.1%.

Swiss National Bank decreased its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 171,000 shares of the company's stock after selling 3,500 shares during the quarter. Swiss National Bank owned 0.20% of Light & Wonder worth $14,810,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings in shares of Light & Wonder by 321.7% in the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock valued at $136,152,000 after buying an additional 1,199,213 shares during the period. Ninety One UK Ltd lifted its holdings in shares of Light & Wonder by 56.7% in the first quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company's stock valued at $101,728,000 after buying an additional 425,202 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Light & Wonder by 63.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,191 shares of the company's stock valued at $363,000 after buying an additional 1,632 shares during the period. Calamos Wealth Management LLC acquired a new stake in shares of Light & Wonder in the first quarter valued at $294,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of 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 buying an additional 10,478 shares during the period. Institutional investors own 88.08% of the company's stock.

Light & Wonder Stock Up 1.9%

Shares of Light & Wonder stock opened at $88.52 on Thursday. The stock has a 50-day moving average price of $92.65 and a 200 day moving average price of $91.95. The company has a market cap of $7.43 billion, a P/E ratio of 22.35, a P/E/G ratio of 0.52 and a beta of 1.21. 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.

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

Insiders Place Their Bets

In other news, Director Antonia Korsanos bought 8,065 shares of the company's stock in a transaction on Sunday, August 10th. The shares were bought at an average cost of $80.05 per share, with a total value of $645,603.25. Following the transaction, the director directly owned 22,815 shares in the company, valued at approximately $1,826,340.75. This trade represents a 54.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jamie Odell bought 8,275 shares of the company's stock in a transaction on Thursday, August 7th. The stock was purchased at an average cost of $78.81 per share, for a total transaction of $652,152.75. Following the completion of the transaction, the director owned 8,275 shares in the company, valued at approximately $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 bought a total of 17,756 shares of company stock valued at $1,421,688 in the last three months. Insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

LNW has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered Light & Wonder from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $108.00 to $95.00 in a report on Thursday, August 7th. Wall Street Zen downgraded Light & Wonder from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Mizuho upped their target price on Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a report on Thursday, May 8th. Truist Financial upped their target price on Light & Wonder from $110.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Macquarie reduced their target price on Light & Wonder from $122.00 to $117.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.10.

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.

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