Comerica Bank Has $1.39 Million Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Comerica Bank lessened its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 62.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,130 shares of the company's stock after selling 26,773 shares during the quarter. Comerica Bank's holdings in Light & Wonder were worth $1,393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Light & Wonder in the fourth quarter valued at about $91,683,000. Park West Asset Management LLC acquired a new stake in shares of Light & Wonder in the fourth quarter valued at $46,241,000. Bank of Nova Scotia acquired a new stake in shares of Light & Wonder during the fourth quarter worth about $16,020,000. Invesco Ltd. boosted its position in Light & Wonder by 37.0% in the 4th quarter. Invesco Ltd. now owns 587,809 shares of the company's stock valued at $50,775,000 after buying an additional 158,790 shares during the period. Finally, National Bank of Canada FI acquired a new position in Light & Wonder during the 4th quarter worth $12,033,000. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Stock Up 0.1%

NASDAQ LNW traded up $0.05 during trading hours on Friday, hitting $83.63. The company had a trading volume of 57,809 shares, compared to its average volume of 805,744. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. Light & Wonder, Inc. has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 0.35 and a beta of 1.30. The firm's 50 day moving average is $89.08 and its 200 day moving average is $92.25.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. The firm had revenue of $774.00 million during the quarter, compared to analysts' expectations of $802.93 million. During the same period in the previous year, the company earned $0.88 earnings per share. The business's quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on LNW. Truist Financial decreased their target price on Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus boosted their price objective on shares of Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Macquarie reduced their target price on Light & Wonder from $125.00 to $120.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.82.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the sale, the chief accounting officer now directly owns 5,016 shares in the company, valued at approximately $523,720.56. The trade was a 18.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Sottile sold 2,356 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total transaction of $248,652.24. Following the completion of the transaction, the vice president now owns 77,331 shares of the company's stock, valued at $8,161,513.74. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,867 shares of company stock worth $1,037,884 over the last 90 days. Insiders own 2.20% of the company's stock.

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.