Ethic Inc. Lowers Stock Holdings in Light & Wonder, Inc. $LNW

Ethic Inc. reduced its position in Light & Wonder, Inc. (NASDAQ:LNW) by 16.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,707 shares of the company’s stock after selling 542 shares during the period. Ethic Inc.’s holdings in Light & Wonder were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LNW. Ninety One UK Ltd raised its holdings in Light & Wonder by 56.7% in the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock worth $101,728,000 after acquiring an additional 425,202 shares during the last quarter. Broad Peak Investment Advisers Pte Ltd purchased a new position in Light & Wonder in the 1st quarter worth approximately $20,960,000. Goldman Sachs Group Inc. raised its holdings in Light & Wonder by 509.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 260,259 shares of the company’s stock worth $22,541,000 after acquiring an additional 217,589 shares during the last quarter. Nuveen LLC purchased a new position in Light & Wonder in the 1st quarter worth approximately $17,425,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Light & Wonder in the 2nd quarter worth approximately $13,754,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, Director Timothy Throsby acquired 20,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was purchased at an average price of $89.37 per share, with a total value of $1,787,400.00. Following the transaction, the director directly owned 42,082 shares in the company, valued at approximately $3,760,868.34. The trade was a 90.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Antonia Korsanos acquired 8,065 shares of the business’s stock in a transaction dated Sunday, August 10th. The shares were acquired at an average cost of $80.05 per share, with a total value of $645,603.25. Following the transaction, the director owned 22,815 shares in the company, valued at approximately $1,826,340.75. This trade represents a 54.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 37,756 shares of company stock worth $3,209,088. 2.20% of the stock is currently owned by insiders.

Light & Wonder Trading Down 2.8%

NASDAQ:LNW opened at $71.41 on Friday. Light & Wonder, Inc. has a 12 month low of $69.56 and a 12 month high of $113.94. The company has a 50 day simple moving average of $84.13 and a two-hundred day simple moving average of $87.57. 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 $5.99 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 0.48 and a beta of 1.45.

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

Wall Street Analysts Forecast Growth

LNW has been the subject of a number of recent analyst reports. Truist Financial boosted their price objective on shares of Light & Wonder from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Light & Wonder in a report on Wednesday, October 8th. Zacks Research lowered shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Benchmark decreased their price objective on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 8th. Finally, Wall Street Zen lowered shares of Light & Wonder from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Five equities 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $102.14.

Light & Wonder Company 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.