Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,171,618 shares of the company's stock after selling 320,906 shares during the period. Vanguard Group Inc. owned 9.63% of Light & Wonder worth $707,744,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LNW. ING Groep NV increased its position in shares of Light & Wonder by 1.9% in the first quarter. ING Groep NV now owns 582,926 shares of the company's stock valued at $50,487,000 after acquiring an additional 10,926 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Light & Wonder by 25.1% in the first quarter. PNC Financial Services Group Inc. now owns 1,939 shares of the company's stock valued at $168,000 after acquiring an additional 389 shares during the period. Castellan Group purchased a new position in shares of Light & Wonder in the first quarter valued at about $10,184,000. US Bancorp DE increased its position in shares of Light & Wonder by 18.7% in the first quarter. US Bancorp DE now owns 1,164 shares of the company's stock valued at $101,000 after acquiring an additional 183 shares during the period. Finally, Natixis Advisors LLC increased its position in shares of Light & Wonder by 236.8% in the first quarter. Natixis Advisors LLC now owns 46,747 shares of the company's stock valued at $4,049,000 after acquiring an additional 32,867 shares during the period. Hedge funds and other institutional investors own 88.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of Light & Wonder from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $108.00 to $95.00 in a research report on Thursday, August 7th. Mizuho upped their price objective on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a report on Thursday, May 8th. Jefferies Financial Group set a $116.00 price objective on shares of Light & Wonder in a report on Wednesday, June 25th. Stifel Nicolaus upped their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Truist Financial upped their target price on shares of Light & Wonder from $110.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Light & Wonder currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.10.

Light & Wonder Stock Up 0.1%

NASDAQ LNW traded up $0.09 during trading on Friday, reaching $88.21. 1,111,912 shares of the company's stock traded hands, compared to its average volume of 1,266,279. 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 cap of $7.41 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 0.53 and a beta of 1.21. The company's 50 day simple moving average is $92.72 and its two-hundred day simple moving average is $91.98. Light & Wonder, Inc. has a 12-month low of $69.56 and a 12-month high of $115.00.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted 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. 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 for the quarter, compared to the consensus estimate of $851.29 million. During the same quarter last year, the firm posted $0.90 EPS. The company's revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Insider Activity

In other news, Director Jamie Odell acquired 8,275 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were purchased at an average price of $78.81 per share, with a total value of $652,152.75. Following the transaction, the director directly owned 8,275 shares in the company, valued at approximately $652,152.75. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Antonia Korsanos acquired 8,065 shares of the business's stock in a transaction dated Sunday, August 10th. The stock was purchased at an average cost of $80.05 per share, for a total transaction of $645,603.25. Following the transaction, the director owned 22,815 shares in the company, valued at approximately $1,826,340.75. The trade was a 54.68% 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. 2.20% of the stock is currently owned by corporate insiders.

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.