Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 22.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,509 shares of the company’s stock after selling 154,804 shares during the quarter. Victory Capital Management Inc. owned about 0.60% of Light & Wonder worth $44,710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LNW. SG Americas Securities LLC grew its position in Light & Wonder by 30.8% during the 3rd quarter. SG Americas Securities LLC now owns 2,256 shares of the company’s stock worth $161,000 after purchasing an additional 531 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Light & Wonder by 21.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,784 shares of the company’s stock worth $1,055,000 after purchasing an additional 2,575 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Light & Wonder by 0.7% in the third quarter. Teacher Retirement System of Texas now owns 73,803 shares of the company’s stock valued at $5,264,000 after acquiring an additional 525 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of Light & Wonder in the third quarter valued at about $565,000. Finally, Arizona State Retirement System boosted its holdings in shares of Light & Wonder by 1.5% in the third quarter. Arizona State Retirement System now owns 25,944 shares of the company’s stock valued at $1,851,000 after acquiring an additional 384 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LNW. Mizuho began coverage on shares of Light & Wonder in a report on Tuesday, March 26th. They issued an “underperform” rating and a $83.00 target price on the stock. Redburn Atlantic downgraded shares of Light & Wonder from a “buy” rating to a “neutral” rating and lifted their target price for the company from $105.00 to $110.00 in a report on Monday, March 11th. JPMorgan Chase & Co. lifted their target price on shares of Light & Wonder from $98.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Susquehanna boosted their price objective on shares of Light & Wonder from $100.00 to $111.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, Benchmark initiated coverage on shares of Light & Wonder in a report on Tuesday, January 16th. They set a “buy” rating and a $92.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Light & Wonder currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.75.

Light & Wonder Stock Performance

Shares of LNW opened at $92.96 on Monday. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.04. The stock has a market cap of $8.40 billion, a P/E ratio of 52.82 and a beta of 1.80. The company has a 50-day moving average of $97.68 and a two-hundred day moving average of $88.03. Light & Wonder, Inc. has a 12-month low of $56.01 and a 12-month high of $108.90.

Light & Wonder (NASDAQ:LNW) last announced its earnings results on Tuesday, February 27th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). The business had revenue of $770.00 million for the quarter, compared to analyst estimates of $748.30 million. Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, research analysts predict that Light & Wonder, Inc. will post 3.79 EPS for the current fiscal year.

Insider Activity

In other news, VP James Sottile sold 1,549 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $101.15, for a total value of $156,681.35. Following the completion of the transaction, the vice president now owns 57,478 shares of the company’s stock, valued at $5,813,899.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP James Sottile sold 1,549 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $101.15, for a total value of $156,681.35. Following the completion of the transaction, the vice president now owns 57,478 shares of the company’s stock, valued at $5,813,899.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Siobhan Lane sold 3,566 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $100.73, for a total transaction 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 approximately $1,138,450.46. The disclosure for this sale can be found here. Insiders sold a total of 7,537 shares of company stock valued at $760,427 over the last 90 days. Insiders own 2.10% of the company’s stock.

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.