Tidal Investments LLC Has $340,000 Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Tidal Investments LLC reduced its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 51.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,933 shares of the company's stock after selling 4,105 shares during the quarter. Tidal Investments LLC's holdings in Light & Wonder were worth $340,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in Light & Wonder by 1,752.9% in the fourth quarter. Royal Bank of Canada now owns 157,073 shares of the company's stock worth $13,568,000 after purchasing an additional 148,596 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Light & Wonder by 6.8% during the fourth quarter. ProShare Advisors LLC now owns 4,131 shares of the company's stock valued at $357,000 after acquiring an additional 263 shares during the period. Nomura Holdings Inc. lifted its holdings in shares of Light & Wonder by 16.5% during the fourth quarter. Nomura Holdings Inc. now owns 31,022 shares of the company's stock valued at $2,680,000 after acquiring an additional 4,391 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Light & Wonder by 19.6% during the fourth quarter. Nuveen Asset Management LLC now owns 204,498 shares of the company's stock valued at $17,665,000 after acquiring an additional 33,525 shares during the period. Finally, Graham Capital Management L.P. bought a new position in shares of Light & Wonder during the fourth quarter valued at $334,000. 88.08% of the stock is owned by institutional investors.

Insider Transactions at Light & Wonder

In related news, VP James Sottile sold 2,356 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the transaction, the vice president now directly owns 77,331 shares in the company, valued at approximately $8,161,513.74. The trade was a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Oliver Chow sold 2,595 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $104.94, for a total value of $272,319.30. Following the completion of the transaction, the chief financial officer now owns 3,695 shares of the company's stock, valued at $387,753.30. This represents a 41.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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 Price Performance

Shares of Light & Wonder stock traded up $1.69 during trading on Wednesday, reaching $86.60. The company's stock had a trading volume of 751,247 shares, compared to its average volume of 826,490. The stock has a 50-day moving average price of $84.47 and a two-hundred day moving average price of $91.22. 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, Inc. has a one year low of $75.46 and a one year high of $115.00. The stock has a market capitalization of $7.31 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $802.93 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, sell-side analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LNW has been the subject of a number of analyst reports. Truist Financial cut their price objective on Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Macquarie cut their price objective on Light & Wonder from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. Benchmark cut their price objective on Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a report on Monday, May 12th. Finally, Mizuho lifted their price objective on Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.