Swiss National Bank Cuts Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Swiss National Bank reduced its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,000 shares of the company's stock after selling 20,300 shares during the period. Swiss National Bank owned approximately 0.20% of Light & Wonder worth $14,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Light & Wonder by 0.5% in the third quarter. Vanguard Group Inc. now owns 9,152,926 shares of the company's stock valued at $652,878,000 after acquiring an additional 46,751 shares during the last quarter. Moody Aldrich Partners LLC acquired a new position in shares of Light & Wonder during the 4th quarter worth $6,848,000. Barclays PLC lifted its position in shares of Light & Wonder by 95.8% during the 3rd quarter. Barclays PLC now owns 168,548 shares of the company's stock worth $12,021,000 after buying an additional 82,460 shares during the last quarter. Duality Advisers LP bought a new position in Light & Wonder in the third quarter valued at about $565,000. Finally, Louisiana State Employees Retirement System acquired a new position in Light & Wonder during the fourth quarter worth about $2,077,000. Institutional investors own 88.08% of the company's stock.

Light & Wonder Stock Performance

NASDAQ LNW traded down $0.09 on Friday, hitting $91.46. 1,157,522 shares of the stock traded hands, compared to its average volume of 622,119. The company has a debt-to-equity ratio of 4.61, a quick ratio of 1.63 and a current ratio of 1.98. The business's fifty day moving average is $97.29 and its two-hundred day moving average is $88.53. Light & Wonder, Inc. has a 12 month low of $56.01 and a 12 month high of $108.90. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 37.95 and a beta of 1.80.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted 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). The business had revenue of $770.00 million during the quarter, compared to analysts' expectations of $748.30 million. Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. Light & Wonder's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. As a group, equities analysts anticipate that Light & Wonder, Inc. will post 3.83 EPS for the current fiscal year.

Insider Activity

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 shares were sold at an average price of $101.15, for a total value of $156,681.35. Following the completion of the transaction, 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, CAO Vanja Kalabic sold 1,149 shares of Light & Wonder stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $100.72, for a total transaction of $115,727.28. Following the completion of the sale, the chief accounting officer now directly owns 1,600 shares of the company's stock, valued at approximately $161,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James Sottile sold 1,549 shares of the firm'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 owns 57,478 shares in the company, valued at approximately $5,813,899.70. The disclosure for this sale can be found here. Insiders have sold a total of 7,537 shares of company stock worth $760,427 over the last ninety days. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

LNW has been the topic of a number of research analyst reports. Mizuho cut their price target on Light & Wonder from $83.00 to $79.00 and set an "underperform" rating on the stock in a report on Thursday. Benchmark began coverage on Light & Wonder in a research report on Tuesday, January 16th. They issued a "buy" rating and a $92.00 target price for the company. Macquarie raised their price objective on Light & Wonder from $100.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, February 28th. Truist Financial upped their target price on Light & Wonder from $90.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus restated a "hold" rating and set a $103.00 price objective (up previously from $97.00) on shares of Light & Wonder in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $95.08.

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.