Light & Wonder, Inc. (NASDAQ:LNW) Director Buys $652,152.75 in Stock

Key Points

• Director Jamie Odell of Light & Wonder, Inc. purchased 8,275 shares for a total of $652,152.75 on August 7th, signaling confidence in the company's prospects.
• Light & Wonder reported an EPS of $1.58 for the quarter, outperforming expectations but with revenue declining 1.1% year-over-year.
• Analysts have set a consensus price target of $108.10 for Light & Wonder, with ratings ranging from "sell" to "strong buy."

Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) Director Jamie Odell bought 8,275 shares of the company's stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $78.81 per share, with a total value of $652,152.75. Following the completion of the acquisition, the director owned 8,275 shares in the company, valued at $652,152.75. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Light & Wonder Stock Up 4.9%

Shares of LNW traded up $3.90 during mid-day trading on Monday, reaching $82.76. The company's stock had a trading volume of 1,180,520 shares, compared to its average volume of 930,068. Light & Wonder, Inc. has a 12-month low of $69.56 and a 12-month high of $115.00. The stock has a market cap of $6.95 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 0.49 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. The company's 50 day moving average is $92.60 and its 200 day moving average is $92.03.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its quarterly 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. The company had revenue of $809.00 million for the quarter, compared to analyst estimates of $851.29 million. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%. The firm's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. Equities analysts anticipate that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Institutional Trading of Light & Wonder

Several hedge funds have recently modified their holdings of the business. IFP Advisors Inc increased its stake in Light & Wonder by 198.9% in the second quarter. IFP Advisors Inc now owns 269 shares of the company's stock valued at $26,000 after purchasing an additional 179 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Light & Wonder by 4,783.3% in the first quarter. Versant Capital Management Inc now owns 293 shares of the company's stock worth $25,000 after buying an additional 287 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Light & Wonder by 118.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 437 shares of the company's stock valued at $42,000 after purchasing an additional 237 shares during the last quarter. AlphaQuest LLC boosted its holdings in Light & Wonder by 41.8% in the second quarter. AlphaQuest LLC now owns 604 shares of the company's stock valued at $58,000 after purchasing an additional 178 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Light & Wonder by 3,861.1% in the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock valued at $63,000 after purchasing an additional 695 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LNW has been the subject of a number of research analyst reports. Jefferies Financial Group set a $116.00 price target on Light & Wonder in a report on Wednesday, June 25th. Mizuho increased their price target on Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a report on Thursday, May 8th. Wall Street Zen cut Light & Wonder from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Macquarie decreased their target price on Light & Wonder from $122.00 to $117.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus increased their target price on Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Light & Wonder presently has a consensus rating of "Moderate Buy" and an average price target of $108.10.

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.

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