Louisiana State Employees Retirement System Buys Shares of 25,300 Light & Wonder, Inc. (NASDAQ:LNW)

Louisiana State Employees Retirement System bought a new stake in Light & Wonder, Inc. (NASDAQ:LNW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 25,300 shares of the company’s stock, valued at approximately $2,077,000.

Several other institutional investors and hedge funds also recently bought and sold shares of LNW. Headlands Technologies LLC acquired a new position in shares of Light & Wonder in the 3rd quarter worth approximately $31,000. State of Wyoming acquired a new position in shares of Light & Wonder in the 2nd quarter worth approximately $33,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Light & Wonder in the 3rd quarter worth approximately $36,000. Macquarie Group Ltd. acquired a new position in shares of Light & Wonder in the 3rd quarter worth approximately $124,000. Finally, Amundi acquired a new position in shares of Light & Wonder in the 4th quarter worth approximately $157,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Vanja Kalabic sold 1,149 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $100.72, for a total transaction of $115,727.28. Following the completion of the sale, the chief accounting officer now owns 1,600 shares in the company, valued at approximately $161,152. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Vanja Kalabic sold 1,149 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $100.72, for a total value of $115,727.28. Following the completion of the sale, the chief accounting officer now owns 1,600 shares in the company, valued at approximately $161,152. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James Sottile sold 1,549 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $101.15, for a total transaction of $156,681.35. Following the completion of the sale, the vice president now owns 57,478 shares of the company’s stock, valued at approximately $5,813,899.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,537 shares of company stock worth $760,427. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Benchmark assumed coverage on shares of Light & Wonder in a research note on Tuesday, January 16th. They set a “buy” rating and a $92.00 target price on the stock. Truist Financial upped their target price on shares of Light & Wonder from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Redburn Atlantic downgraded shares of Light & Wonder from a “buy” rating to a “neutral” rating and upped their target price for the stock from $105.00 to $110.00 in a research note on Monday, March 11th. JPMorgan Chase & Co. upped their target price on shares of Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Finally, Macquarie upped their target price on shares of Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.75.

Light & Wonder Trading Down 1.4 %

Shares of Light & Wonder stock opened at $88.47 on Thursday. The company has a fifty day simple moving average of $97.11 and a 200-day simple moving average of $86.35. Light & Wonder, Inc. has a 12-month low of $56.01 and a 12-month high of $108.90. 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 $7.95 billion, a price-to-earnings ratio of 50.27 and a beta of 1.78.

Light & Wonder (NASDAQ:LNW) last issued its earnings results 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). Light & Wonder had a net margin of 5.58% and a return on equity of 23.68%. The company had revenue of $770.00 million during the quarter, compared to analyst estimates of $748.30 million. During the same quarter in the previous year, the company posted $0.12 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts forecast that Light & Wonder, Inc. will post 3.78 EPS for the current fiscal year.

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.