Federated Hermes Inc. Has $838,000 Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Federated Hermes Inc. raised its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,209 shares of the company’s stock after acquiring an additional 196 shares during the period. Federated Hermes Inc.’s holdings in Light & Wonder were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Light & Wonder by 0.5% during the third quarter. Vanguard Group Inc. now owns 9,152,926 shares of the company’s stock worth $652,878,000 after buying an additional 46,751 shares during the period. Moody Aldrich Partners LLC acquired a new position in shares of Light & Wonder during the fourth quarter worth about $6,848,000. Barclays PLC boosted its position in shares of Light & Wonder by 95.8% during the third quarter. Barclays PLC now owns 168,548 shares of the company’s stock worth $12,021,000 after buying an additional 82,460 shares during the period. Duality Advisers LP acquired a new position in shares of Light & Wonder during the third quarter worth about $565,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Light & Wonder during the fourth quarter worth about $2,077,000. 88.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Light & Wonder

In other news, CAO Vanja Kalabic sold 1,149 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $100.72, for a total transaction of $115,727.28. Following the transaction, the chief accounting officer now owns 1,600 shares in the company, valued at $161,152. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Light & Wonder news, CEO Siobhan Lane sold 3,566 shares of the firm’s 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 transaction, the chief executive officer now owns 11,302 shares in the company, valued at approximately $1,138,450.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Vanja Kalabic sold 1,149 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $100.72, for a total value of $115,727.28. Following the transaction, the chief accounting officer now owns 1,600 shares in the company, valued at approximately $161,152. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,537 shares of company stock worth $760,427. Company insiders own 2.00% of the company’s stock.

Light & Wonder Price Performance

NASDAQ:LNW opened at $90.00 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.04. The stock’s 50 day moving average price is $97.66 and its two-hundred day moving average price is $87.69. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 51.14 and a beta of 1.78. Light & Wonder, Inc. has a 12-month low of $56.01 and a 12-month high of $108.90.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.03). The business had revenue of $770.00 million during the quarter, compared to the consensus estimate of $748.30 million. Light & Wonder had a net margin of 5.58% and a return on equity of 23.68%. Light & Wonder’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. On average, analysts anticipate that Light & Wonder, Inc. will post 3.78 earnings per share for the current year.

Wall Street Analyst Weigh In

LNW has been the subject of several recent research reports. Macquarie increased their price target on Light & Wonder from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Stifel Nicolaus reissued a “hold” rating and set a $103.00 price target (up from $97.00) on shares of Light & Wonder in a research report on Thursday, March 14th. Truist Financial increased their price target on Light & Wonder from $90.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Mizuho initiated coverage on Light & Wonder in a research report on Tuesday, March 26th. They set an “underperform” rating and a $83.00 price target for the company. Finally, Redburn Atlantic cut Light & Wonder from a “buy” rating to a “neutral” rating and increased their price target for the company from $105.00 to $110.00 in a research report on Monday, March 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.75.

About Light & Wonder

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.