Victory Capital Management Inc. Has $44.71 Million Position in Light & Wonder, Inc. (NASDAQ:LNW)

Victory Capital Management Inc. lowered its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 22.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 544,509 shares of the company's stock after selling 154,804 shares during the period. Victory Capital Management Inc. owned 0.60% of Light & Wonder worth $44,710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in shares of Light & Wonder in the 3rd quarter worth $31,000. DekaBank Deutsche Girozentrale bought a new position in shares of Light & Wonder during the 3rd quarter valued at approximately $36,000. SG Americas Securities LLC raised its stake in shares of Light & Wonder by 30.8% in the third quarter. SG Americas Securities LLC now owns 2,256 shares of the company's stock valued at $161,000 after acquiring an additional 531 shares during the period. CI Investments Inc. boosted its holdings in Light & Wonder by 1,789.1% during the 3rd quarter. CI Investments Inc. now owns 2,418 shares of the company's stock valued at $172,000 after acquiring an additional 2,290 shares during the period. Finally, AXQ Capital LP bought a new position in Light & Wonder in the 3rd quarter valued at $221,000. 88.08% of the stock is owned by institutional investors.

Light & Wonder Trading Up 2.1 %

LNW traded up $1.97 during mid-day trading on Monday, hitting $94.93. 466,559 shares of the stock were exchanged, compared to its average volume of 572,285. The company has a market cap of $8.58 billion, a PE ratio of 53.94 and a beta of 1.80. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.04. The firm's fifty day moving average is $97.68 and its two-hundred day moving average is $88.03. Light & Wonder, Inc. has a 1-year low of $56.01 and a 1-year high of $108.90.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $748.30 million. During the same period in the previous year, the company earned $0.12 earnings per share. Light & Wonder's quarterly revenue was up 12.9% on a year-over-year basis. Equities analysts forecast that Light & Wonder, Inc. will post 3.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LNW shares. Benchmark assumed coverage on shares of Light & Wonder in a research note on Tuesday, January 16th. They set a "buy" rating and a $92.00 target price for the company. Truist Financial boosted their price target on Light & Wonder from $90.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Susquehanna increased their price objective on shares of Light & Wonder from $100.00 to $111.00 and gave the stock a "positive" rating in a research note on Wednesday, February 28th. Mizuho began coverage on Light & Wonder in a report on Tuesday, March 26th. They issued an "underperform" rating and a $83.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on Light & Wonder from $98.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Light & Wonder currently has a consensus rating of "Moderate Buy" and an average price target of $96.75.

Insider Buying and Selling

In other Light & Wonder news, CFO Oliver Chow sold 1,273 shares of the business's stock in a transaction that occurred on 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 owns 1,517 shares in the company, valued at approximately $153,505.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Oliver Chow sold 1,273 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $101.19, for a total value of $128,814.87. Following the transaction, the chief financial officer now owns 1,517 shares in the company, valued at approximately $153,505.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Siobhan Lane sold 3,566 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $100.73, for a total value of $359,203.18. Following the sale, the chief executive officer now owns 11,302 shares of the company's stock, valued at approximately $1,138,450.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,537 shares of company stock worth $760,427. Company insiders own 2.00% of the company's stock.

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.