XTX Topco Ltd Sells 8,314 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

XTX Topco Ltd decreased its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 77.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,462 shares of the company's stock after selling 8,314 shares during the quarter. XTX Topco Ltd's holdings in Light & Wonder were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LNW. Bessemer Group Inc. raised its stake in Light & Wonder by 321.7% during the first 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 last quarter. Park West Asset Management LLC bought a new stake in shares of Light & Wonder in the fourth quarter worth $46,241,000. Ninety One UK Ltd increased its position in shares of Light & Wonder by 56.7% during 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 last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Light & Wonder during the 1st quarter valued at $32,843,000. Finally, Broad Peak Investment Advisers Pte Ltd purchased a new stake in Light & Wonder in the first quarter worth about $20,960,000. Institutional investors own 88.08% of the company's stock.

Insider Transactions at Light & Wonder

In related news, Director Antonia Korsanos bought 8,065 shares of the company's stock in a transaction that occurred on Sunday, August 10th. The shares were acquired at an average price of $80.05 per share, with a total value of $645,603.25. Following the completion of the transaction, the director owned 22,815 shares of the company's stock, valued at $1,826,340.75. The trade was a 54.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jamie Odell bought 8,275 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were bought 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 $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 17,756 shares of company stock valued at $1,421,688 over the last quarter. Company insiders own 2.20% of the company's stock.

Light & Wonder Stock Performance

Shares of NASDAQ LNW traded up $0.09 during mid-day trading on Friday, hitting $88.21. The company had a trading volume of 1,111,912 shares, compared to its average volume of 954,435. The firm's 50 day simple moving average is $92.70 and its two-hundred day simple moving average is $91.96. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 0.53 and a beta of 1.21. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. 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 announced its earnings results on Wednesday, August 6th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.44 by $0.14. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%. The firm had revenue of $809.00 million for the quarter, compared to analysts' expectations of $851.29 million. During the same quarter in the previous year, the company earned $0.90 earnings per share. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

LNW has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of Light & Wonder from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $108.00 to $95.00 in a report on Thursday, August 7th. Truist Financial increased their price target on shares of Light & Wonder from $110.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Jefferies Financial Group set a $116.00 price objective on shares of Light & Wonder in a research note on Wednesday, June 25th. Benchmark lowered their price objective on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Mizuho upped 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Light & Wonder presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.10.

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.