Iridian Asset Management LLC CT cut its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,098 shares of the company's stock after selling 11,549 shares during the quarter. Light & Wonder accounts for 0.9% of Iridian Asset Management LLC CT's portfolio, making the stock its 29th biggest holding. Iridian Asset Management LLC CT owned approximately 0.07% of Light & Wonder worth $4,853,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its holdings in Light & Wonder by 0.6% during the third quarter. New York State Common Retirement Fund now owns 36,200 shares of the company's stock valued at $2,582,000 after purchasing an additional 200 shares in the last quarter. Toroso Investments LLC raised its stake in shares of Light & Wonder by 3.1% in the third quarter. Toroso Investments LLC now owns 6,772 shares of the company's stock valued at $483,000 after acquiring an additional 206 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Light & Wonder by 1.6% in the third quarter. Natixis Advisors L.P. now owns 14,525 shares of the company's stock valued at $1,036,000 after acquiring an additional 234 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Light & Wonder by 2.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 15,032 shares of the company's stock valued at $1,072,000 after acquiring an additional 305 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Light & Wonder by 6.7% in the third quarter. Mercer Global Advisors Inc. ADV now owns 5,336 shares of the company's stock valued at $381,000 after acquiring an additional 333 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 several research analyst reports. Susquehanna boosted their price objective on shares of Light & Wonder from $100.00 to $111.00 and gave the stock a "positive" rating in a research report on Wednesday, February 28th. Stifel Nicolaus restated a "hold" rating and issued a $103.00 price objective (up previously from $97.00) on shares of Light & Wonder in a research report on Thursday, March 14th. JPMorgan Chase & Co. upped their target price on shares of Light & Wonder from $98.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, February 28th. Redburn Atlantic cut shares of Light & Wonder from a "buy" rating to a "neutral" rating and upped their target price for the company from $105.00 to $110.00 in a research report on Monday, March 11th. Finally, Truist Financial upped their target price on shares of Light & Wonder from $90.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $96.75.
Check Out Our Latest Report on Light & Wonder
Light & Wonder Stock Down 3.0 %
NASDAQ LNW traded down $2.87 on Friday, reaching $92.92. The company had a trading volume of 340,589 shares, compared to its average volume of 571,613. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 53.10 and a beta of 1.78. The company has a debt-to-equity ratio of 5.04, a quick ratio of 1.63 and a current ratio of 1.88. Light & Wonder, Inc. has a 1-year low of $56.01 and a 1-year high of $108.90. The company's fifty day moving average is $96.42 and its 200-day moving average is $85.70.
Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.03). Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. The business had revenue of $770.00 million for the quarter, compared to analyst estimates of $748.30 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The company's quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts forecast that Light & Wonder, Inc. will post 3.78 earnings per share for the current fiscal year.
Insider Transactions at Light & Wonder
In other news, VP James Sottile sold 1,549 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $101.15, for a total value of $156,681.35. Following the sale, the vice president now directly 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 SEC, which can be accessed through the SEC website. In other news, VP James Sottile sold 1,549 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $101.15, for a total value of $156,681.35. Following the sale, the vice president now directly 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 SEC, which can be accessed through the SEC website. Also, CFO Oliver Chow sold 1,273 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $101.19, for a total transaction of $128,814.87. Following the completion of the transaction, the chief financial officer now directly owns 1,517 shares in the company, valued at $153,505.23. The disclosure for this sale can be found here. Insiders sold a total of 7,537 shares of company stock worth $760,427 in the last three months. Insiders own 2.00% of the company's stock.
Light & Wonder Profile
(
Free Report)
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.
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