Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,050 shares of the company's stock after selling 4,910 shares during the period. Public Employees Retirement System of Ohio's holdings in Light & Wonder were worth $2,682,000 as of its most recent SEC filing.

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

Insider Activity

In other Light & Wonder news, VP James Sottile sold 2,356 shares of the stock in a transaction 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 transaction, the vice president now directly owns 77,331 shares in the company, valued at $8,161,513.74. This represents a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the chief accounting officer now owns 5,016 shares in the company, valued at $523,720.56. This trade represents a 18.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,867 shares of company stock worth $1,037,884. 2.20% of the stock is currently owned by company insiders.

Light & Wonder Stock Up 2.0%

Shares of LNW stock traded up $1.69 on Wednesday, hitting $86.60. The stock had a trading volume of 751,247 shares, compared to its average volume of 826,490. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 0.35 and a beta of 1.30. The stock's 50 day moving average is $84.47 and its 200-day moving average is $91.22. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder, Inc. has a 52-week low of $75.46 and a 52-week high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its earnings results 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). The firm had revenue of $774.00 million during the quarter, compared to analysts' expectations of $802.93 million. Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. Light & Wonder's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share. As a group, research analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Analyst Ratings Changes

LNW has been the subject of a number of analyst reports. Benchmark cut their price objective 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. Stifel Nicolaus upped their price target on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Truist Financial dropped their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Macquarie decreased their price objective on shares of Light & Wonder from $125.00 to $120.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Finally, Mizuho boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.82.

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.