Light & Wonder, Inc. (NASDAQ:LNW) Director Hamish Mclennan Purchases 1,380 Shares

Key Points

• Hamish Mclennan, a director at Light & Wonder, purchased 1,380 shares at an average price of $87.61, increasing his total ownership to 6,380 shares valued at approximately $558,951.80.
• Light & Wonder recently reported $1.58 earnings per share (EPS), surpassing analysts' expectations of $1.44, although quarterly revenue declined by 1.1% compared to last year.
• The company has experienced significant analyst activity, with ratings ranging from sell to strong buy, and an average price target of $108.10.

Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) Director Hamish Mclennan bought 1,380 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $87.61 per share, with a total value of $120,901.80. Following the purchase, the director directly owned 6,380 shares of the company's stock, valued at approximately $558,951.80. This trade represents a 27.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Light & Wonder Price Performance

Light & Wonder stock traded up $1.67 during mid-day trading on Wednesday, reaching $88.52. The company had a trading volume of 1,089,338 shares, compared to its average volume of 1,214,231. Light & Wonder, Inc. has a 1 year low of $69.56 and a 1 year high of $115.00. 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 has a market capitalization of $7.43 billion, a P/E ratio of 22.35, a P/E/G ratio of 0.52 and a beta of 1.21. The stock's 50-day simple moving average is $92.65 and its 200-day simple moving average is $91.95.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share (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 company had revenue of $809.00 million during the quarter, compared to analysts' expectations of $851.29 million. During the same period last year, the company posted $0.90 earnings per share. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Light & Wonder, Inc. will post 4.3 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LNW. LPL Financial LLC increased its stake in shares of Light & Wonder by 12.2% during the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company's stock worth $231,000 after purchasing an additional 291 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Light & Wonder by 11.3% during the 4th quarter. Bank of Montreal Can now owns 10,818 shares of the company's stock worth $934,000 after purchasing an additional 1,099 shares in the last quarter. Invesco Ltd. increased its stake in shares of Light & Wonder by 37.0% during the 4th quarter. Invesco Ltd. now owns 587,809 shares of the company's stock worth $50,775,000 after purchasing an additional 158,790 shares in the last quarter. Barclays PLC increased its stake in shares of Light & Wonder by 4.4% during the 4th quarter. Barclays PLC now owns 162,770 shares of the company's stock worth $14,061,000 after purchasing an additional 6,918 shares in the last quarter. Finally, Farringdon Capital Ltd. purchased a new position in shares of Light & Wonder during the 4th quarter worth approximately $230,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LNW shares. JPMorgan Chase & Co. cut shares of Light & Wonder from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $108.00 to $95.00 in a report on Thursday, August 7th. Mizuho increased their price target 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. Benchmark cut their price target on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating for the company in a report on Friday, August 8th. Stifel Nicolaus increased their price target on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, Jefferies Financial Group set a $116.00 price target on shares of Light & Wonder in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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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