Van ECK Associates Corp Sells 1,610 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Van ECK Associates Corp cut its position in Light & Wonder, Inc. (NASDAQ:LNW) by 9.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,279 shares of the company’s stock after selling 1,610 shares during the period. Van ECK Associates Corp’s holdings in Light & Wonder were worth $1,255,000 at the end of the most recent quarter.

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

Insider Activity at Light & Wonder

In related news, VP James Sottile sold 1,549 shares of the firm’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 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 accessible through this link. In related news, CFO Oliver Chow sold 1,273 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $101.19, for a total transaction of $128,814.87. Following the sale, the chief financial officer now directly owns 1,517 shares in the company, valued at approximately $153,505.23. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP James Sottile sold 1,549 shares of Light & Wonder stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $101.15, for a total value of $156,681.35. Following the transaction, the vice president now directly owns 57,478 shares of the company’s stock, valued at approximately $5,813,899.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,537 shares of company stock valued at $760,427. 2.10% of the stock is owned by insiders.

Light & Wonder Trading Down 5.1 %

Shares of Light & Wonder stock opened at $91.55 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.04. The stock has a fifty day simple moving average of $97.51 and a 200 day simple moving average of $88.41. Light & Wonder, Inc. has a 12-month low of $56.01 and a 12-month high of $108.90. The company has a market capitalization of $8.28 billion, a P/E ratio of 52.02 and a beta of 1.80.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $748.30 million. During the same period in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, sell-side analysts anticipate that Light & Wonder, Inc. will post 3.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LNW. Macquarie boosted their price objective on Light & Wonder from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Redburn Atlantic downgraded shares of Light & Wonder from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $105.00 to $110.00 in a research report on Monday, March 11th. Mizuho dropped their target price on shares of Light & Wonder from $83.00 to $79.00 and set an “underperform” rating on the stock in a research report on Thursday. Susquehanna raised their price target on shares of Light & Wonder from $100.00 to $111.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, Truist Financial upped their price objective 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. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.42.

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.