Y Intercept Hong Kong Ltd Sells 2,097 Shares of Light & Wonder, Inc. $LNW

Y Intercept Hong Kong Ltd lowered its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 16.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,870 shares of the company’s stock after selling 2,097 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Light & Wonder were worth $1,046,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Envestnet Asset Management Inc. raised its holdings in shares of Light & Wonder by 32.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,257 shares of the company’s stock valued at $1,661,000 after purchasing an additional 4,215 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Light & Wonder by 41.8% in the 2nd quarter. AlphaQuest LLC now owns 604 shares of the company’s stock valued at $58,000 after purchasing an additional 178 shares in the last quarter. Smith Group Asset Management LLC raised its holdings in shares of Light & Wonder by 15.7% in the 2nd quarter. Smith Group Asset Management LLC now owns 154,714 shares of the company’s stock valued at $14,893,000 after purchasing an additional 21,036 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Light & Wonder in the 2nd quarter valued at about $1,144,000. Finally, Stratos Wealth Advisors LLC bought a new stake in shares of Light & Wonder in the 2nd quarter valued at about $204,000. Institutional investors own 88.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Light & Wonder in a report on Friday. Benchmark reduced their price target 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. Stifel Nicolaus reduced their price target on shares of Light & Wonder from $95.00 to $83.00 and set a “hold” rating for the company in a report on Tuesday, October 28th. Wall Street Zen lowered shares of Light & Wonder from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Finally, Macquarie reduced their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $102.14.

Light & Wonder Stock Up 1.3%

Shares of LNW stock opened at $73.62 on Tuesday. Light & Wonder, Inc. has a 1-year low of $69.56 and a 1-year high of $113.94. The stock’s fifty day moving average price is $83.34 and its 200 day moving average price is $87.60. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 0.48 and a beta of 1.45.

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

Insider Activity at Light & Wonder

In related news, Director Timothy Throsby purchased 20,000 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were acquired at an average price of $89.37 per share, for a total transaction of $1,787,400.00. Following the purchase, the director owned 42,082 shares of the company’s stock, valued at $3,760,868.34. This trade represents a 90.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jamie Odell purchased 8,275 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $78.81 per share, for a total transaction of $652,152.75. Following the purchase, the director directly owned 8,275 shares in the company, valued at $652,152.75. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 37,756 shares of company stock worth $3,209,088. 2.20% of the stock is owned by company insiders.

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.