Zurcher Kantonalbank Zurich Cantonalbank Acquires 4,985 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 33.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,769 shares of the company’s stock after purchasing an additional 4,985 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Light & Wonder were worth $1,623,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LNW. Headlands Technologies LLC acquired a new position in shares of Light & Wonder in the 3rd quarter worth approximately $31,000. DekaBank Deutsche Girozentrale bought a new position in shares of Light & Wonder during the third quarter valued at $36,000. SG Americas Securities LLC lifted its holdings in shares of Light & Wonder by 30.8% during the third quarter. SG Americas Securities LLC now owns 2,256 shares of the company’s stock valued at $161,000 after acquiring an additional 531 shares during the period. CI Investments Inc. boosted its stake in shares of Light & Wonder by 1,789.1% in the 3rd quarter. CI Investments Inc. now owns 2,418 shares of the company’s stock valued at $172,000 after purchasing an additional 2,290 shares in the last quarter. Finally, AXQ Capital LP bought a new stake in shares of Light & Wonder in the 3rd quarter worth about $221,000. 88.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on LNW. Truist Financial lifted 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. JPMorgan Chase & Co. lifted their target price on shares of Light & Wonder from $98.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Redburn Atlantic lowered Light & Wonder from a “buy” rating to a “neutral” rating and increased their price target for the stock from $105.00 to $110.00 in a research report on Monday, March 11th. Mizuho began coverage on Light & Wonder in a research report on Tuesday, March 26th. They issued an “underperform” rating and a $83.00 price objective for the company. Finally, Macquarie increased their target price on Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. 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 company’s stock. Based on data from MarketBeat, Light & Wonder has an average rating of “Moderate Buy” and an average price target of $96.75.

Light & Wonder Stock Performance

Light & Wonder stock opened at $93.55 on Thursday. The company has a market cap of $8.40 billion, a PE ratio of 53.15 and a beta of 1.78. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.04. Light & Wonder, Inc. has a 1 year low of $56.01 and a 1 year high of $108.90. The company’s 50-day moving average is $97.48 and its two-hundred day moving average is $87.08.

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

Insider Activity

In related news, VP James Sottile sold 1,549 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $101.15, for a total value of $156,681.35. Following the completion of the sale, the vice president now owns 57,478 shares in the company, valued at $5,813,899.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Siobhan Lane sold 3,566 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $100.73, for a total value of $359,203.18. Following the completion of the sale, the chief executive officer now owns 11,302 shares in the company, valued at approximately $1,138,450.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP James Sottile sold 1,549 shares of Light & Wonder stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $101.15, for a total value of $156,681.35. Following the transaction, the vice president now owns 57,478 shares in the company, valued at $5,813,899.70. The disclosure for this sale can be found here. Insiders have sold a total of 7,537 shares of company stock valued at $760,427 in the last 90 days. 2.00% of the stock is owned by company insiders.

Light & Wonder Company 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.