Amalgamated Bank Sells 1,348 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Amalgamated Bank reduced its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,162 shares of the company’s stock after selling 1,348 shares during the quarter. Amalgamated Bank owned about 0.06% of Light & Wonder worth $4,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Light & Wonder in the third quarter worth $31,000. DekaBank Deutsche Girozentrale bought a new stake in Light & Wonder in the 3rd quarter worth approximately $36,000. SG Americas Securities LLC lifted its holdings in shares of Light & Wonder by 30.8% in the 3rd quarter. SG Americas Securities LLC now owns 2,256 shares of the company’s stock worth $161,000 after acquiring an additional 531 shares during the last quarter. CI Investments Inc. increased its stake in Light & Wonder by 1,789.1% in 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 period. Finally, AXQ Capital LP purchased a new position in shares of Light & Wonder in the third quarter valued at about $221,000. 88.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Light & Wonder

In other news, CEO Siobhan Lane sold 3,566 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $100.73, for a total transaction of $359,203.18. Following the completion of the sale, the chief executive officer now owns 11,302 shares in the company, valued at approximately $1,138,450.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Light & Wonder news, CEO Siobhan Lane sold 3,566 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $100.73, for a total value of $359,203.18. Following the completion of the transaction, the chief executive officer now directly owns 11,302 shares of the company’s stock, valued at $1,138,450.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Vanja Kalabic sold 1,149 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $100.72, for a total value of $115,727.28. Following the sale, the chief accounting officer now owns 1,600 shares in the company, valued at $161,152. The disclosure for this sale can be found here. Insiders sold a total of 7,537 shares of company stock worth $760,427 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Light & Wonder Price Performance

Shares of LNW stock opened at $97.84 on Wednesday. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.88 and a quick ratio of 1.63. The company has a market capitalization of $8.84 billion, a P/E ratio of 55.59 and a beta of 1.80. The company’s 50-day simple moving average is $97.68 and its two-hundred day simple moving average is $88.17. Light & Wonder, Inc. has a one year low of $56.01 and a one year high of $108.90.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 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 business had revenue of $770.00 million during the quarter, compared to the consensus estimate of $748.30 million. During the same period last year, the firm earned $0.12 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts anticipate that Light & Wonder, Inc. will post 3.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LNW shares. Mizuho initiated coverage on shares of Light & Wonder in a research note on Tuesday, March 26th. They issued an “underperform” rating and a $83.00 price target on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $103.00 price target (up previously from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th. Benchmark assumed coverage on Light & Wonder in a report on Tuesday, January 16th. They issued a “buy” rating and a $92.00 price target on the stock. Truist Financial boosted their target price on shares of Light & Wonder from $90.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Macquarie lifted their price target on shares of Light & Wonder from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Light & Wonder has a consensus rating of “Moderate Buy” and an average price target of $96.75.

Light & Wonder Company Profile

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.