Man Group plc Sells 6,068 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Man Group plc decreased its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 35.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,886 shares of the company's stock after selling 6,068 shares during the period. Man Group plc's holdings in Light & Wonder were worth $940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in LNW. Barclays PLC boosted its position in shares of Light & Wonder by 539.6% during the 3rd quarter. Barclays PLC now owns 155,852 shares of the company's stock valued at $14,142,000 after purchasing an additional 131,486 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Light & Wonder by 2.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 21,858 shares of the company's stock valued at $1,888,000 after purchasing an additional 458 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Light & Wonder by 194.3% in the fourth quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after buying an additional 474 shares during the period. KBC Group NV boosted its holdings in shares of Light & Wonder by 57.3% in the fourth quarter. KBC Group NV now owns 3,609 shares of the company's stock worth $312,000 after buying an additional 1,315 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Light & Wonder in the fourth quarter worth about $35,000. Institutional investors own 88.08% of the company's stock.

Light & Wonder Price Performance

Shares of NASDAQ:LNW traded down $0.73 on Thursday, hitting $91.07. The stock had a trading volume of 144,378 shares, compared to its average volume of 908,396. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The firm's 50 day moving average price is $85.88 and its 200-day moving average price is $91.53. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). The company had revenue of $774.00 million for the quarter, compared to analyst estimates of $802.93 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. On average, equities research analysts predict that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on LNW shares. Benchmark decreased their target price on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a report on Monday, May 12th. Macquarie decreased their target price on shares of Light & Wonder from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Stifel Nicolaus raised their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. Finally, Mizuho raised their target price on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $106.82.

Insider Buying and Selling

In other Light & Wonder news, CEO Siobhan Lane sold 3,784 shares of the business's stock in a transaction dated 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 directly owns 21,254 shares of the company's stock, valued at approximately $2,239,533.98. The trade was a 15.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the business's stock in a transaction dated 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 directly owns 5,016 shares of the company's stock, valued at $523,720.56. This represents a 18.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock worth $1,037,884 in the last 90 days. Corporate insiders own 2.20% of the company's stock.

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.