Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 53.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 128,286 shares of the company's stock after selling 149,734 shares during the period. Millennium Management LLC owned about 0.15% of Light & Wonder worth $11,081,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Light & Wonder by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock worth $733,584,000 after acquiring an additional 100,527 shares during the period. Norges Bank acquired a new position in Light & Wonder during the fourth quarter worth $91,683,000. Deutsche Bank AG raised its position in shares of Light & Wonder by 15.6% in the fourth quarter. Deutsche Bank AG now owns 887,492 shares of the company's stock valued at $76,662,000 after buying an additional 119,616 shares during the last quarter. Northern Trust Corp raised its position in shares of Light & Wonder by 12.9% in the fourth quarter. Northern Trust Corp now owns 727,235 shares of the company's stock valued at $62,819,000 after buying an additional 83,150 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Light & Wonder by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 725,637 shares of the company's stock worth $62,677,000 after buying an additional 33,684 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Light & Wonder Trading Down 0.7%

Light & Wonder stock traded down $0.63 during midday trading on Thursday, hitting $91.17. 144,378 shares of the stock were exchanged, compared to its average volume of 908,396. Light & Wonder, Inc. has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 0.35 and a beta of 1.30. The stock's 50-day simple moving average is $85.88 and its 200 day simple moving average is $91.53. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Macquarie decreased their price target on shares of Light & Wonder from $125.00 to $120.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Mizuho raised their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, Citigroup raised shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Light & Wonder has a consensus rating of "Moderate Buy" and an average target price of $106.82.

Insider Buying and Selling at Light & Wonder

In related news, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total value of $398,720.08. Following the completion of the transaction, the chief executive officer now owns 21,254 shares in the company, valued at approximately $2,239,533.98. The trade was a 15.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 owns 77,331 shares of the company's stock, valued at $8,161,513.74. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,867 shares of company stock worth $1,037,884 over the last three months. 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.