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

Man Group plc reduced its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 35.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Light & Wonder in the 4th quarter worth about $91,683,000. Park West Asset Management LLC acquired a new stake in shares of Light & Wonder in the 4th quarter worth about $46,241,000. Bank of Nova Scotia acquired a new stake in shares of Light & Wonder in the 4th quarter worth about $16,020,000. Engine Capital Management LP grew its position in Light & Wonder by 1,110.0% in the 4th quarter. Engine Capital Management LP now owns 175,524 shares of the company's stock valued at $15,162,000 after buying an additional 161,018 shares in the last quarter. Finally, Invesco Ltd. grew its position in Light & Wonder by 37.0% in the 4th quarter. Invesco Ltd. now owns 587,809 shares of the company's stock valued at $50,775,000 after buying an additional 158,790 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Oliver Chow sold 2,595 shares of Light & Wonder stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $104.94, for a total value of $272,319.30. Following the transaction, the chief financial officer now owns 3,695 shares of the company's stock, valued at $387,753.30. This trade represents a 41.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total transaction of $248,652.24. Following the completion of the transaction, the vice president now directly owns 77,331 shares in the company, valued at approximately $8,161,513.74. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock valued at $1,037,884 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LNW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price 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. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. 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. 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. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Light & Wonder presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.82.

Light & Wonder Stock Up 6.5%

LNW traded up $5.55 during midday trading on Tuesday, hitting $91.56. 1,540,778 shares of the company's stock traded hands, compared to its average volume of 818,958. The company has a market cap of $7.73 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30. The stock's fifty day simple moving average is $86.37 and its 200-day simple moving average is $91.53. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $802.93 million. During the same period in the previous year, the business posted $0.88 EPS. Light & Wonder's revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal 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.