State of Alaska Department of Revenue Has $913,000 Stock Position in Light & Wonder, Inc. $LNW

State of Alaska Department of Revenue trimmed its position in Light & Wonder, Inc. (NASDAQ:LNW) by 8.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,490 shares of the company’s stock after selling 855 shares during the quarter. State of Alaska Department of Revenue’s holdings in Light & Wonder were worth $913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of LNW. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Light & Wonder by 0.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock valued at $1,907,000 after buying an additional 133 shares during the period. Simon Quick Advisors LLC grew its holdings in Light & Wonder by 2.9% during the 1st quarter. Simon Quick Advisors LLC now owns 4,752 shares of the company’s stock worth $412,000 after acquiring an additional 136 shares during the last quarter. KBC Group NV lifted its position in Light & Wonder by 3.8% during the 1st quarter. KBC Group NV now owns 3,746 shares of the company’s stock valued at $324,000 after purchasing an additional 137 shares during the period. US Bancorp DE lifted its position in Light & Wonder by 18.7% during the 1st quarter. US Bancorp DE now owns 1,164 shares of the company’s stock valued at $101,000 after purchasing an additional 183 shares during the period. Finally, State of Michigan Retirement System lifted its position in Light & Wonder by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 21,099 shares of the company’s stock valued at $1,827,000 after purchasing an additional 200 shares during the period. Institutional investors own 88.08% of the company’s stock.

Insider Transactions at Light & Wonder

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group set a $116.00 price target on Light & Wonder in a research note on Wednesday, June 25th. Benchmark decreased their price target 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. Wall Street Zen cut shares of Light & Wonder from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Zacks Research downgraded Light & Wonder from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Truist Financial lifted their target price on Light & Wonder from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Light & Wonder currently has a consensus rating of “Hold” and a consensus price target of $105.88.

Light & Wonder Stock Down 1.9%

Shares of NASDAQ LNW opened at $83.07 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.51 and a debt-to-equity ratio of 6.86. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 0.51 and a beta of 1.45. Light & Wonder, Inc. has a 12 month low of $69.56 and a 12 month high of $113.94. The stock has a 50-day moving average price of $88.72 and a two-hundred day moving average price of $88.98.

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

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.