Mackenzie Financial Corp Acquires 7,719 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Mackenzie Financial Corp grew its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 135.7% in the 4th quarter, HoldingsChannel reports. The firm owned 13,408 shares of the company’s stock after buying an additional 7,719 shares during the quarter. Mackenzie Financial Corp’s holdings in Light & Wonder were worth $1,101,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. New York State Common Retirement Fund raised its stake in shares of Light & Wonder by 0.6% during the 3rd quarter. New York State Common Retirement Fund now owns 36,200 shares of the company’s stock worth $2,582,000 after acquiring an additional 200 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of Light & Wonder by 1.6% during the 3rd quarter. Natixis Advisors L.P. now owns 14,525 shares of the company’s stock worth $1,036,000 after acquiring an additional 234 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Light & Wonder by 2.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 15,032 shares of the company’s stock worth $1,072,000 after acquiring an additional 305 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Light & Wonder by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 25,944 shares of the company’s stock worth $1,851,000 after acquiring an additional 384 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Light & Wonder during the 3rd quarter worth approximately $31,000. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Down 0.6 %

LNW stock opened at $93.55 on Thursday. The firm’s fifty day simple moving average is $97.48 and its 200-day simple moving average is $87.08. The company has a market capitalization of $8.40 billion, a P/E ratio of 53.15 and a beta of 1.78. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.88 and a quick ratio of 1.63. Light & Wonder, Inc. has a 12 month low of $56.01 and a 12 month high of $108.90.

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

Analyst Upgrades and Downgrades

LNW has been the topic of several research analyst reports. Mizuho initiated coverage on shares of Light & Wonder in a research report on Tuesday, March 26th. They set an “underperform” rating and a $83.00 target price on the stock. Redburn Atlantic downgraded shares of Light & Wonder from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $105.00 to $110.00 in a research report on Monday, March 11th. Stifel Nicolaus reissued a “hold” rating and set a $103.00 target price (up previously from $97.00) on shares of Light & Wonder in a research report on Thursday, March 14th. JPMorgan Chase & Co. boosted their target price on shares of Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, Benchmark initiated coverage on shares of Light & Wonder in a research report on Tuesday, January 16th. They set a “buy” rating and a $92.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.75.

Insider Buying and Selling

In related news, VP James Sottile sold 1,549 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $101.15, for a total transaction of $156,681.35. Following the sale, the vice president now directly owns 57,478 shares of the company’s stock, valued at $5,813,899.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Light & Wonder news, VP James Sottile sold 1,549 shares of the company’s stock in a transaction on 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 directly owns 57,478 shares in the company, valued at $5,813,899.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Vanja Kalabic sold 1,149 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $100.72, for a total transaction of $115,727.28. Following the transaction, the chief accounting officer now owns 1,600 shares of the company’s stock, valued at $161,152. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,537 shares of company stock valued at $760,427. Corporate insiders own 2.00% of the company’s stock.

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.