Nuveen Asset Management LLC Increases Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Nuveen Asset Management LLC grew its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,498 shares of the company's stock after buying an additional 33,525 shares during the quarter. Nuveen Asset Management LLC owned 0.23% of Light & Wonder worth $17,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LNW. R Squared Ltd bought a new stake in shares of Light & Wonder in the fourth quarter worth about $35,000. Blue Trust Inc. boosted its position in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after acquiring an additional 474 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Light & Wonder during the 4th quarter valued at approximately $224,000. Farringdon Capital Ltd. bought a new stake in Light & Wonder during the 4th quarter valued at approximately $230,000. Finally, LPL Financial LLC lifted its holdings in shares of Light & Wonder by 12.2% during the fourth quarter. LPL Financial LLC now owns 2,677 shares of the company's stock valued at $231,000 after purchasing an additional 291 shares during the last quarter. 88.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LNW shares. Stifel Nicolaus lifted their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Benchmark cut their target price on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Macquarie dropped 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. Mizuho increased their price objective on shares of Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a report on Thursday, May 8th. Finally, Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Light & Wonder has a consensus rating of "Moderate Buy" and an average price target of $106.82.

Light & Wonder Stock Down 0.8%

NASDAQ LNW traded down $0.73 on Thursday, hitting $91.07. 144,378 shares of the stock were exchanged, compared to its average volume of 908,396. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The company has a market cap of $7.68 billion, a PE ratio of 28.35, a PEG ratio of 0.35 and a beta of 1.30. The company has a 50-day moving average price of $85.88 and a 200-day moving average price of $91.53.

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

Insider Activity

In related news, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the completion of the sale, the chief accounting officer now owns 5,016 shares in the company, valued at $523,720.56. This represents a 18.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Sottile sold 2,356 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the sale, the vice president now owns 77,331 shares of the company's stock, 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. In the last quarter, insiders sold 9,867 shares of company stock worth $1,037,884. Corporate insiders own 2.20% of the company's stock.

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.