Russell Investments Group Ltd. Sells 11,917 Shares of Light & Wonder, Inc. $LNW

Key Points

• Russell Investments Group Ltd. sold 11,917 shares of Light & Wonder, Inc., reducing its stake by 30%, leaving it with 27,809 shares valued at approximately $2.41 million.
• There has been significant activity from other institutional investors, with notable increases in holdings by Versant Capital Management and Farther Finance Advisors, reflecting growing interest in Light & Wonder.
• Director Timothy Throsby bought 20,000 shares of Light & Wonder, increasing his stake by 90.57%, while other insiders also made notable purchases, totaling over 37,000 shares in the last three months.

Russell Investments Group Ltd. lowered its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 30.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,809 shares of the company's stock after selling 11,917 shares during the quarter. Russell Investments Group Ltd.'s holdings in Light & Wonder were worth $2,409,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake in Light & Wonder by 321.7% in the 1st quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock valued at $136,152,000 after buying an additional 1,199,213 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in Light & Wonder by 2.0% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company's stock valued at $127,198,000 after purchasing an additional 28,358 shares during the period. Ninety One UK Ltd boosted its holdings in Light & Wonder by 56.7% in the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company's stock valued at $101,728,000 after purchasing an additional 425,202 shares during the period. Deutsche Bank AG boosted its holdings in Light & Wonder by 15.6% in the 4th quarter. Deutsche Bank AG now owns 887,492 shares of the company's stock valued at $76,662,000 after purchasing an additional 119,616 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Light & Wonder by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 733,888 shares of the company's stock valued at $63,562,000 after purchasing an additional 7,544 shares during the period. Institutional investors and hedge funds own 88.08% of the company's stock.

Insider Activity at Light & Wonder

In related news, Director Timothy Throsby acquired 20,000 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $89.37 per share, with a total value of $1,787,400.00. Following the acquisition, the director directly owned 42,082 shares in the company, valued at $3,760,868.34. The trade was a 90.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Jamie Odell acquired 8,275 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $78.81 per share, for a total transaction of $652,152.75. Following the acquisition, the director owned 8,275 shares in the company, valued at approximately $652,152.75. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 37,756 shares of company stock worth $3,209,088 in the last quarter. Insiders own 2.20% of the company's stock.

Light & Wonder Price Performance

Shares of Light & Wonder stock traded up $0.64 during mid-day trading on Friday, reaching $92.47. 700,158 shares of the stock were exchanged, compared to its average volume of 1,570,761. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 0.55 and a beta of 1.21. The company has a current ratio of 1.77, a quick ratio of 1.51 and a debt-to-equity ratio of 6.86. The firm has a 50-day simple moving average of $93.81 and a 200 day simple moving average of $92.13. Light & Wonder, Inc. has a fifty-two week low of $69.56 and a fifty-two week high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.14. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The business had revenue of $809.00 million during the quarter, compared to analysts' expectations of $851.29 million. During the same quarter last year, the company posted $0.90 EPS. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. On average, sell-side analysts predict that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on LNW shares. Stifel Nicolaus increased their price target 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. Jefferies Financial Group set a $116.00 price target on shares of Light & Wonder in a report on Wednesday, June 25th. Benchmark reduced their price target on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating for the company in a report on Friday, August 8th. Wall Street Zen downgraded shares of Light & Wonder from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Zacks Research downgraded shares of Light & Wonder from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Light & Wonder has a consensus rating of "Moderate Buy" and an average target price of $104.11.

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.