Public Employees Retirement System of Ohio Lowers Position in Light & Wonder, Inc. $LNW

Public Employees Retirement System of Ohio cut its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 5.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,468 shares of the company’s stock after selling 1,512 shares during the period. Public Employees Retirement System of Ohio’s holdings in Light & Wonder were worth $2,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LNW. Versant Capital Management Inc lifted its holdings in Light & Wonder by 4,783.3% in the first quarter. Versant Capital Management Inc now owns 293 shares of the company’s stock worth $25,000 after buying an additional 287 shares during the period. Farther Finance Advisors LLC lifted its holdings in Light & Wonder by 3,861.1% in the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock worth $63,000 after buying an additional 695 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Light & Wonder in the first quarter worth about $71,000. CX Institutional bought a new position in shares of Light & Wonder during the first quarter valued at approximately $87,000. Finally, US Bancorp DE increased its stake in shares of Light & Wonder by 18.7% during the first quarter. US Bancorp DE now owns 1,164 shares of the company’s stock valued at $101,000 after purchasing an additional 183 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Light & Wonder Price Performance

Shares of LNW opened at $84.59 on Thursday. The company has a market capitalization of $7.10 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 0.51 and a beta of 1.45. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86. The firm has a 50 day moving average of $89.54 and a 200 day moving average of $89.60. Light & Wonder, Inc. has a twelve month low of $69.56 and a twelve month high of $113.94.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.14. The company had revenue of $809.00 million during the quarter, compared to the consensus estimate of $851.29 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities research analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jamie Odell purchased 8,275 shares of Light & Wonder stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average price of $78.81 per share, with a total value of $652,152.75. Following the completion of the transaction, the director directly owned 8,275 shares of the company’s stock, valued at approximately $652,152.75. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hamish Mclennan bought 1,380 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was bought at an average cost of $87.61 per share, with a total value of $120,901.80. Following the transaction, the director owned 6,380 shares in the company, valued at $558,951.80. This trade represents a 27.60% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 37,756 shares of company stock worth $3,209,088 over the last three months. 2.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on LNW. Truist Financial raised their target price on shares of Light & Wonder from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Wall Street Zen downgraded shares of Light & Wonder from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a research note on Wednesday, June 25th. Benchmark decreased their target price on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Finally, Zacks Research downgraded shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Light & Wonder currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.88.

Light & Wonder Profile

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.