Raymond James & Associates Acquires New Shares in Light & Wonder, Inc. (NASDAQ:LNW)

Raymond James & Associates acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNW) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,546 shares of the company’s stock, valued at approximately $620,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LNW. New York State Common Retirement Fund grew its stake in Light & Wonder by 0.6% in the third quarter. New York State Common Retirement Fund now owns 36,200 shares of the company’s stock valued at $2,582,000 after acquiring an additional 200 shares during the period. Natixis Advisors L.P. boosted its position in shares of Light & Wonder by 1.6% during the third quarter. Natixis Advisors L.P. now owns 14,525 shares of the company’s stock worth $1,036,000 after buying an additional 234 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Light & Wonder by 2.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 15,032 shares of the company’s stock worth $1,072,000 after buying an additional 305 shares during the period. Arizona State Retirement System boosted its position in shares of Light & Wonder by 1.5% during the third quarter. Arizona State Retirement System now owns 25,944 shares of the company’s stock worth $1,851,000 after buying an additional 384 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Light & Wonder during the third quarter worth about $31,000. Institutional investors own 88.08% of the company’s stock.

Insider Buying and Selling

In related news, 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 transaction of $115,727.28. Following the completion of the transaction, the chief accounting officer now directly owns 1,600 shares of the company’s stock, valued at approximately $161,152. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 transaction of $115,727.28. Following the completion of the transaction, the chief accounting officer now directly owns 1,600 shares of the company’s stock, valued at approximately $161,152. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP James Sottile sold 1,549 shares of Light & Wonder stock in a transaction dated Thursday, March 7th. The stock was 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 directly owns 57,478 shares of the company’s stock, valued at $5,813,899.70. The disclosure for this sale can be found here. Insiders sold a total of 7,537 shares of company stock valued at $760,427 in the last three months. Insiders own 2.00% of the company’s stock.

Light & Wonder Trading Down 0.6 %

Shares of LNW stock opened at $93.55 on Thursday. The company has a debt-to-equity ratio of 5.04, a quick ratio of 1.63 and a current ratio of 1.88. Light & Wonder, Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $108.90. The company has a market cap of $8.40 billion, a PE ratio of 53.15 and a beta of 1.78. The stock’s fifty day moving average price is $97.48 and its two-hundred day moving average price is $87.08.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 earnings per share 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 firm had revenue of $770.00 million for the quarter, compared to analyst estimates of $748.30 million. During the same period last year, the business earned $0.12 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. Equities analysts predict that Light & Wonder, Inc. will post 3.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LNW. Truist Financial upped their price objective on Light & Wonder from $90.00 to $115.00 and gave the stock a “buy” 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. Mizuho started 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. Susquehanna increased their price target on Light & Wonder from $100.00 to $111.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Finally, Benchmark began coverage on Light & Wonder in a research note on Tuesday, January 16th. They issued a “buy” rating and a $92.00 price objective on the stock. 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. Based on data from MarketBeat.com, Light & Wonder presently has a consensus rating of “Moderate Buy” and a consensus target price 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.