Light & Wonder, Inc. (NASDAQ:LNW) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 727,235 shares of the company's stock after purchasing an additional 83,150 shares during the quarter. Northern Trust Corp owned approximately 0.82% of Light & Wonder worth $62,819,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LNW. Vanguard Group Inc. lifted its position in Light & Wonder by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock valued at $733,584,000 after buying an additional 100,527 shares during the period. Norges Bank purchased a new position in Light & Wonder during the 4th quarter valued at about $91,683,000. Dimensional Fund Advisors LP boosted its stake in Light & Wonder by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 725,637 shares of the company's stock worth $62,677,000 after acquiring an additional 33,684 shares in the last quarter. Invesco Ltd. grew its holdings in Light & Wonder by 37.0% in the fourth quarter. Invesco Ltd. now owns 587,809 shares of the company's stock worth $50,775,000 after purchasing an additional 158,790 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Light & Wonder by 17.8% during the fourth quarter. Bessemer Group Inc. now owns 372,809 shares of the company's stock valued at $32,203,000 after purchasing an additional 56,378 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Trading Up 5.8%

LNW stock traded up $4.76 during trading on Monday, hitting $86.25. The company had a trading volume of 154,612 shares, compared to its average volume of 803,646. Light & Wonder, Inc. has a 52-week low of $75.46 and a 52-week high of $115.00. The company has a 50 day simple moving average of $90.64 and a 200-day simple moving average of $92.48. The firm has a market capitalization of $7.28 billion, a P/E ratio of 26.53, a PEG ratio of 0.35 and a beta of 1.30. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). The company had revenue of $774.00 million for the quarter, compared to analysts' expectations of $802.93 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The business's revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. As a group, research analysts forecast that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Light & Wonder

In other news, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total transaction of $398,720.08. Following the transaction, the chief executive officer now directly owns 21,254 shares in the company, valued at approximately $2,239,533.98. This trade represents a 15.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Sottile sold 2,356 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the sale, the vice president now directly owns 77,331 shares in the company, valued at approximately $8,161,513.74. The trade was a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,867 shares of company stock valued at $1,037,884 in the last ninety days. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

LNW has been the topic of several analyst reports. Truist Financial dropped their target price on Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Macquarie lowered their price target on Light & Wonder from $125.00 to $120.00 and set an "outperform" rating on the stock in a report on Thursday. Citigroup upgraded Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. Mizuho raised their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a report on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $109.55.

Light & Wonder Profile

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.