Insider Buying: Light & Wonder, Inc. (NASDAQ:LNW) Director Acquires 20,000 Shares of Stock

Key Points

• Timothy Throsby, a director at Light & Wonder, Inc., purchased 20,000 shares at an average price of $89.37, increasing his ownership in the company by 90.57% to a total of 42,082 shares.
• Light & Wonder reported earnings of $1.58 per share for the last quarter, surpassing analysts' expectations of $1.44, but their revenue fell short at $809 million compared to expectations of $851.29 million.
• Analysts have set varied price targets for Light & Wonder, with the average consensus price target currently at $108.10, indicating a mixed outlook with ratings ranging from sell to strong buy.

Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) Director Timothy Throsby purchased 20,000 shares of the stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $89.37 per share, for a total transaction of $1,787,400.00. Following the transaction, the director directly owned 42,082 shares of the company's stock, valued at approximately $3,760,868.34. This represents a 90.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Light & Wonder Stock Down 0.0%

Shares of LNW traded down $0.01 during trading hours on Monday, reaching $88.20. The company's stock had a trading volume of 1,248,237 shares, compared to its average volume of 956,318. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 0.53 and a beta of 1.21. The company has a 50 day moving average of $92.72 and a two-hundred day moving average of $92.00. Light & Wonder, Inc. has a 1-year low of $69.56 and a 1-year high of $115.00. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.14. The firm had revenue of $809.00 million during the quarter, compared to analysts' expectations of $851.29 million. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%. The company's revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. As a group, research analysts predict that Light & Wonder, Inc. will post 4.3 EPS for the current fiscal year.

Institutional Trading of Light & Wonder

Several large investors have recently made changes to their positions in LNW. LPL Financial LLC boosted its holdings in Light & Wonder by 12.2% during the fourth quarter. LPL Financial LLC now owns 2,677 shares of the company's stock worth $231,000 after buying an additional 291 shares during the last quarter. Bank of Montreal Can raised its position in Light & Wonder by 11.3% in the 4th quarter. Bank of Montreal Can now owns 10,818 shares of the company's stock valued at $934,000 after buying an additional 1,099 shares during the last quarter. Barclays PLC increased its position in shares of Light & Wonder by 4.4% during the 4th quarter. Barclays PLC now owns 162,770 shares of the company's stock worth $14,061,000 after purchasing an additional 6,918 shares during the last quarter. Farringdon Capital Ltd. acquired a new position in shares of Light & Wonder during the 4th quarter worth approximately $230,000. Finally, Commerce Bank increased its position in shares of Light & Wonder by 9.9% during the 4th quarter. Commerce Bank now owns 33,405 shares of the company's stock worth $2,886,000 after purchasing an additional 3,009 shares during the last quarter. Institutional investors own 88.08% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LNW shares. Stifel Nicolaus lifted their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Benchmark decreased their target price on shares of Light & Wonder from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Macquarie cut their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Light & Wonder from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.10.

Light & Wonder Company 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.