Louisiana State Employees Retirement System Makes New Investment in Light & Wonder, Inc. (NASDAQ:LNW)

Louisiana State Employees Retirement System bought a new stake in Light & Wonder, Inc. (NASDAQ:LNW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,300 shares of the company’s stock, valued at approximately $2,077,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 46,751 shares during the period. Morgan Stanley boosted its stake in shares of Light & Wonder by 0.4% in the third quarter. Morgan Stanley now owns 3,251,704 shares of the company’s stock valued at $231,944,000 after purchasing an additional 14,377 shares during the period. State Street Corp boosted its stake in shares of Light & Wonder by 2.0% in the first quarter. State Street Corp now owns 3,101,807 shares of the company’s stock valued at $186,263,000 after purchasing an additional 61,752 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Light & Wonder by 5.0% in the second quarter. Goldman Sachs Group Inc. now owns 1,983,695 shares of the company’s stock valued at $136,399,000 after purchasing an additional 94,764 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Light & Wonder by 4.0% in the first quarter. Geode Capital Management LLC now owns 1,882,929 shares of the company’s stock valued at $113,070,000 after acquiring an additional 72,404 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LNW has been the topic of several recent analyst reports. Susquehanna upped their price target on shares of Light & Wonder from $100.00 to $111.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Mizuho initiated coverage on shares of Light & Wonder in a report on Tuesday, March 26th. They issued an “underperform” rating and a $83.00 price target on the stock. Truist Financial upped their price target on shares of Light & Wonder from $90.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Redburn Atlantic cut shares of Light & Wonder from a “buy” rating to a “neutral” rating and upped their price target for the company from $105.00 to $110.00 in a report on Monday, March 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $103.00 price target (up from $97.00) on shares of Light & Wonder in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.75.

Light & Wonder Stock Down 1.4 %

Shares of NASDAQ:LNW opened at $88.47 on Thursday. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 50.27 and a beta of 1.78. Light & Wonder, Inc. has a 1-year low of $56.01 and a 1-year high of $108.90. The company’s fifty day moving average is $97.11 and its two-hundred day moving average is $86.35. The company has a debt-to-equity ratio of 5.04, a quick ratio of 1.63 and a current ratio of 1.88.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.03). The firm had revenue of $770.00 million for the quarter, compared to the consensus estimate of $748.30 million. Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 EPS. Equities analysts anticipate that Light & Wonder, Inc. will post 3.78 EPS for the current year.

Insider Transactions at Light & Wonder

In other news, VP James Sottile sold 1,549 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $101.15, for a total transaction of $156,681.35. Following the completion of the transaction, the vice president now owns 57,478 shares in the company, valued at $5,813,899.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP James Sottile sold 1,549 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $101.15, for a total transaction of $156,681.35. Following the completion of the transaction, the vice president now owns 57,478 shares in the company, valued at $5,813,899.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Siobhan Lane sold 3,566 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $100.73, for a total transaction of $359,203.18. Following the completion of the transaction, 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 quarter, insiders sold 7,537 shares of company stock worth $760,427. Insiders own 2.00% of the company’s stock.

Light & Wonder Profile

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.