Russell Investments Group Ltd. Sells 2,536 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Russell Investments Group Ltd. decreased its position in Light & Wonder, Inc. (NASDAQ:LNW – Get Rating) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,891 shares of the company’s stock after selling 2,536 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.09% of Light & Wonder worth $5,033,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Light & Wonder in the third quarter worth $443,927,000. Vanguard Group Inc. acquired a new stake in shares of Light & Wonder in the third quarter worth $389,375,000. State Street Corp acquired a new stake in shares of Light & Wonder in the third quarter worth $128,003,000. Harvard Management Co. Inc. acquired a new stake in shares of Light & Wonder in the third quarter worth $114,857,000. Finally, Stone House Capital Management LLC acquired a new stake in shares of Light & Wonder in the third quarter worth $104,627,000. Institutional investors own 96.42% of the company’s stock.

Insider Buying and Selling

In other Light & Wonder news, major shareholder Fine Capital Partners, L.P. sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $64.07, for a total transaction of $4,164,550.00. Following the completion of the sale, the insider now directly owns 9,079,617 shares in the company, valued at $581,731,061.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LNW has been the topic of several research analyst reports. Credit Suisse Group lowered their price objective on shares of Light & Wonder from $48.00 to $46.00 and set an “underperform” rating on the stock in a research note on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Light & Wonder from $55.00 to $56.00 in a research note on Thursday, May 11th. Stifel Nicolaus lifted their price target on shares of Light & Wonder from $62.00 to $63.00 in a research note on Wednesday, May 10th. Susquehanna upgraded shares of Light & Wonder from a “neutral” rating to a “positive” rating and set a $70.00 price target on the stock in a research note on Thursday, May 11th. Finally, B. Riley started coverage on shares of Light & Wonder in a research note on Thursday, April 20th. They set a “neutral” rating and a $57.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $64.22.

Light & Wonder Stock Performance

Shares of Light & Wonder stock opened at $60.20 on Wednesday. The company has a market capitalization of $5.49 billion, a PE ratio of 1.56 and a beta of 1.79. Light & Wonder, Inc. has a 12 month low of $40.10 and a 12 month high of $68.55. The company has a current ratio of 2.74, a quick ratio of 2.48 and a debt-to-equity ratio of 3.27. The stock’s fifty day simple moving average is $59.33 and its 200 day simple moving average is $61.11.

Light & Wonder (NASDAQ:LNW – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $670.00 million during the quarter, compared to analysts’ expectations of $632.14 million. Light & Wonder had a return on equity of 3.52% and a net margin of 140.65%. The company’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.72) EPS. On average, research analysts predict that Light & Wonder, Inc. will post 1.37 EPS for the current year.

Light & Wonder Company Profile

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Light & Wonder, Inc engages in the development of technology-based products and services and associated content. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment designs, develops, manufactures, markets, and distributes a comprehensive portfolio of gaming products and services.