Vanguard Group Inc. Acquires 46,751 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Vanguard Group Inc. increased its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,152,926 shares of the company's stock after buying an additional 46,751 shares during the period. Vanguard Group Inc. owned 10.16% of Light & Wonder worth $652,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LNW. Headlands Technologies LLC bought a new stake in Light & Wonder during the 3rd quarter worth about $31,000. State of Wyoming bought a new stake in Light & Wonder during the 2nd quarter worth approximately $33,000. DekaBank Deutsche Girozentrale bought a new stake in Light & Wonder during the 3rd quarter worth approximately $36,000. Macquarie Group Ltd. bought a new stake in Light & Wonder during the 3rd quarter worth approximately $124,000. Finally, Amundi bought a new stake in Light & Wonder during the 4th quarter worth approximately $157,000. Institutional investors and hedge funds own 85.98% of the company's stock.

Light & Wonder Stock Down 2.2 %

Shares of NASDAQ LNW traded down $2.32 during trading hours on Friday, hitting $104.88. The company had a trading volume of 726,710 shares, compared to its average volume of 579,315. The stock has a market capitalization of $9.42 billion, a P/E ratio of 60.91 and a beta of 1.77. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.04. Light & Wonder, Inc. has a 1-year low of $54.66 and a 1-year high of $108.90. The firm's 50 day moving average is $90.52 and its 200-day moving average is $83.13.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.03). The company had revenue of $770.00 million during the quarter, compared to analyst estimates of $748.30 million. Light & Wonder had a net margin of 5.58% and a return on equity of 23.68%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. On average, analysts expect that Light & Wonder, Inc. will post 3.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LNW shares. Redburn Atlantic cut Light & Wonder from a "buy" rating to a "neutral" rating and increased their target price for the stock from $105.00 to $110.00 in a research note on Monday, March 11th. Benchmark started coverage on Light & Wonder in a research report on Tuesday, January 16th. They set a "buy" rating and a $92.00 price target for the company. JPMorgan Chase & Co. upped their price target on Light & Wonder from $98.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 28th. Stifel Nicolaus reaffirmed a "hold" rating and set a $103.00 price target (up previously from $97.00) on shares of Light & Wonder in a research report on Thursday, March 14th. Finally, Susquehanna upped their price target on Light & Wonder from $100.00 to $111.00 and gave the stock a "positive" rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $98.00.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, VP James Sottile sold 1,549 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $101.15, for a total transaction of $156,681.35. Following the completion of the sale, the vice president now owns 57,478 shares of the company's stock, valued at approximately $5,813,899.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Light & Wonder news, VP James Sottile sold 1,549 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $101.15, for a total transaction of $156,681.35. Following the completion of the sale, the vice president now owns 57,478 shares of the company's stock, valued at approximately $5,813,899.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Vanja Kalabic sold 1,149 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $100.72, for a total value of $115,727.28. Following the sale, the chief accounting officer now directly owns 1,600 shares of the company's stock, valued at approximately $161,152. The disclosure for this sale can be found here. Insiders sold 7,537 shares of company stock valued at $760,427 in the last quarter. 2.00% of the stock is currently owned by insiders.

About Light & Wonder

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.