D. E. Shaw & Co. Inc. Has $33.36 Million Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

D. E. Shaw & Co. Inc. increased its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 32.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 386,158 shares of the company's stock after purchasing an additional 94,854 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.44% of Light & Wonder worth $33,356,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in Light & Wonder in the 4th quarter valued at approximately $35,000. Blue Trust Inc. raised its holdings in Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after acquiring an additional 474 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Light & Wonder in the 4th quarter valued at approximately $224,000. Farringdon Capital Ltd. acquired a new position in Light & Wonder in the 4th quarter valued at approximately $230,000. Finally, LPL Financial LLC raised its holdings in Light & Wonder by 12.2% in the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company's stock valued at $231,000 after acquiring an additional 291 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on LNW. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Truist Financial cut their price target on Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Benchmark cut their price target on Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a report on Monday. Finally, Mizuho upped their price target on Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $106.82.

Light & Wonder Price Performance

Shares of LNW stock traded up $2.56 during trading hours on Tuesday, hitting $88.69. The company had a trading volume of 913,004 shares, compared to its average volume of 807,547. Light & Wonder, Inc. has a 12 month low of $75.46 and a 12 month high of $115.00. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 0.35 and a beta of 1.30. The firm's fifty day moving average is $89.88 and its 200 day moving average is $92.39. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88.

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

Insider Buying and Selling

In related news, VP James Sottile sold 2,356 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the sale, the vice president now directly owns 77,331 shares in the company, valued at $8,161,513.74. This represents a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total value of $118,192.12. Following the sale, the chief accounting officer now owns 5,016 shares in the company, valued at approximately $523,720.56. This trade represents a 18.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock worth $1,037,884 in the last three months. Insiders own 2.10% of the company's stock.

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.