United Services Automobile Association Makes New $516,000 Investment in Light & Wonder, Inc. $LNW

Key Points

• United Services Automobile Association acquired a new stake in Light & Wonder, Inc. by purchasing 5,796 shares valued at approximately $516,000 during the first quarter.
• Insider trading activity showed significant purchases, with Director Timothy Throsby buying 20,000 shares for $1.79 million, indicating confidence in the company's future.
• Light & Wonder reported earnings of $1.58 per share, exceeding expectations, while analysts have mixed opinions on the stock, leading to a consensus rating of "Moderate Buy."

United Services Automobile Association acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,796 shares of the company's stock, valued at approximately $516,000.

Other institutional investors have also recently made changes to their positions in the company. Burgundy Asset Management Ltd. lifted its holdings in Light & Wonder by 6.9% in the first quarter. Burgundy Asset Management Ltd. now owns 1,574,589 shares of the company's stock valued at $136,375,000 after acquiring an additional 102,051 shares during the period. Bessemer Group Inc. increased its holdings in shares of Light & Wonder by 321.7% during the 1st quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock valued at $136,152,000 after purchasing an additional 1,199,213 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of 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. Price T Rowe Associates Inc. MD boosted its holdings in Light & Wonder by 0.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 901,778 shares of the company's stock worth $78,104,000 after buying an additional 3,472 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Light & Wonder by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 733,888 shares of the company's stock worth $63,562,000 after buying an additional 7,544 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company's stock.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, Director Antonia Korsanos bought 8,065 shares of the firm's stock in a transaction dated Sunday, August 10th. The stock was acquired at an average price of $80.05 per share, for a total transaction of $645,603.25. Following the completion of the purchase, the director owned 22,815 shares of the company's stock, valued at approximately $1,826,340.75. This represents a 54.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jamie Odell purchased 8,275 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average price of $78.81 per share, for a total transaction of $652,152.75. Following the transaction, the director directly owned 8,275 shares in the company, valued at $652,152.75. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 37,756 shares of company stock valued at $3,209,088 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Light & Wonder Stock Performance

Shares of LNW stock traded up $0.64 during trading hours on Friday, hitting $89.07. The stock had a trading volume of 1,195,002 shares, compared to its average volume of 990,129. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. The firm has a market capitalization of $7.48 billion, a PE ratio of 22.49, a PEG ratio of 0.53 and a beta of 1.18. The stock's 50 day moving average is $92.64 and its 200 day moving average is $91.21. Light & Wonder, Inc. has a twelve month low of $69.56 and a twelve month 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 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.14. The business had revenue of $809.00 million for the quarter, compared to analysts' expectations of $851.29 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The company's quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. As a group, research analysts forecast that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LNW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of Light & Wonder from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $108.00 to $95.00 in a report on Thursday, August 7th. Benchmark cut their price target on Light & Wonder from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Macquarie lowered their price target on Light & Wonder from $122.00 to $117.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Zacks Research lowered Light & Wonder from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Wall Street Zen downgraded Light & Wonder from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $104.11.

About Light & Wonder

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.