Royal Bank of Canada Purchases 148,596 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Royal Bank of Canada lifted its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 1,752.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 157,073 shares of the company's stock after purchasing an additional 148,596 shares during the period. Royal Bank of Canada owned about 0.18% of Light & Wonder worth $13,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. R Squared Ltd bought a new stake in Light & Wonder in the fourth quarter valued at $35,000. Blue Trust Inc. boosted its stake in shares of 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 purchasing an additional 474 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Light & Wonder during the 4th quarter valued at about $224,000. Farringdon Capital Ltd. bought a new stake in shares of Light & Wonder during the 4th quarter valued at about $230,000. Finally, LPL Financial LLC boosted its position in Light & Wonder by 12.2% during the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company's stock valued at $231,000 after acquiring an additional 291 shares in the last quarter. Institutional investors own 88.08% of the company's stock.

Insider Transactions at Light & Wonder

In other news, VP James Sottile sold 2,356 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Vanja Kalabic sold 1,132 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total transaction of $118,192.12. Following the sale, the chief accounting officer now owns 5,016 shares in the company, valued at approximately $523,720.56. The trade was a 18.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock worth $1,037,884 in the last quarter. Company insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus lifted their price objective on Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research 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. Truist Financial dropped their price objective 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 dropped their price objective 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. Finally, Mizuho boosted their target price on Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $106.82.

Light & Wonder Stock Performance

Light & Wonder stock traded down $0.17 during midday trading on Friday, reaching $90.75. 1,010,368 shares of the company traded hands, compared to its average volume of 823,031. The business has a 50 day moving average of $85.22 and a two-hundred day moving average of $91.36. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30. 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 12 month low of $75.46 and a 12 month high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its 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 firm had revenue of $774.00 million during the quarter, compared to the consensus estimate of $802.93 million. During the same period in the prior year, the company posted $0.88 EPS. The firm's revenue was up 2.4% compared to the same quarter last year. As a group, research analysts predict that Light & Wonder, Inc. will post 4.3 earnings per share for the current 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.