Louisiana State Employees Retirement System Acquires New Shares in Light & Wonder, Inc. (NASDAQ:LNW)

Louisiana State Employees Retirement System purchased a new stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,300 shares of the company's stock, valued at approximately $2,077,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LNW. Vanguard Group Inc. grew its stake in shares of Light & Wonder by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,152,926 shares of the company's stock valued at $652,878,000 after purchasing an additional 46,751 shares during the last quarter. Moody Aldrich Partners LLC purchased a new position in shares of Light & Wonder during the 4th quarter worth approximately $6,848,000. Barclays PLC grew its stake in Light & Wonder by 95.8% in the 3rd quarter. Barclays PLC now owns 168,548 shares of the company's stock worth $12,021,000 after acquiring an additional 82,460 shares during the period. Duality Advisers LP purchased a new position in shares of Light & Wonder in the 3rd quarter worth about $565,000. Finally, Jump Financial LLC purchased a new position in shares of Light & Wonder in the 3rd quarter valued at $468,000. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Stock Performance

Light & Wonder stock traded down $0.41 during mid-day trading on Thursday, reaching $88.06. The company had a trading volume of 647,132 shares, compared to its average volume of 575,090. The company has a 50 day moving average of $97.17 and a 200-day moving average of $86.36. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 50.03 and a beta of 1.78. 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 52 week low of $56.01 and a 52 week high of $108.90.

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 analysts' consensus estimates of $0.76 by ($0.03). The business had revenue of $770.00 million for the quarter, compared to the consensus estimate of $748.30 million. Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. Light & Wonder's revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 earnings per share. On average, sell-side analysts expect that Light & Wonder, Inc. will post 3.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LNW. Truist Financial raised their price target on shares of Light & Wonder from $90.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, February 28th. Susquehanna boosted their price objective on Light & Wonder from $100.00 to $111.00 and gave the stock a "positive" rating in a research note on Wednesday, February 28th. Macquarie boosted their price target on shares of Light & Wonder from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of Light & Wonder from $98.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 28th. Finally, Mizuho started coverage on Light & Wonder in a research report on Tuesday, March 26th. They issued an "underperform" rating and a $83.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $96.75.

Insider Activity at Light & Wonder

In other Light & Wonder news, CAO Vanja Kalabic sold 1,149 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $100.72, for a total value of $115,727.28. Following the completion of the transaction, the chief accounting officer now directly owns 1,600 shares of the company's stock, valued at $161,152. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Light & Wonder news, CAO Vanja Kalabic sold 1,149 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,600 shares of the company's stock, valued at $161,152. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders sold 7,537 shares of company stock valued at $760,427 in the last three months. Corporate insiders own 2.00% of the company's stock.

Light & Wonder Profile

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.