Mackenzie Financial Corp Buys 7,719 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Mackenzie Financial Corp lifted its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 135.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,408 shares of the company’s stock after purchasing an additional 7,719 shares during the quarter. Mackenzie Financial Corp’s holdings in Light & Wonder were worth $1,101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Light & Wonder by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,152,926 shares of the company’s stock worth $652,878,000 after acquiring an additional 46,751 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in shares of Light & Wonder in the 4th quarter worth about $6,848,000. Barclays PLC raised its holdings in shares of Light & Wonder by 95.8% in the 3rd quarter. Barclays PLC now owns 168,548 shares of the company’s stock worth $12,021,000 after acquiring an additional 82,460 shares during the last quarter. Duality Advisers LP acquired a new stake in shares of Light & Wonder in the 3rd quarter worth about $565,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Light & Wonder in the 4th quarter worth about $2,077,000. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Down 0.6 %

NASDAQ:LNW opened at $93.55 on Thursday. 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 capitalization of $8.40 billion, a PE ratio of 53.15 and a beta of 1.78. The firm’s 50 day moving average is $97.48 and its 200 day moving average is $87.08. Light & Wonder, Inc. has a 12 month low of $56.01 and a 12 month high of $108.90.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). The company had revenue of $770.00 million during the quarter, compared to the consensus estimate of $748.30 million. Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. Sell-side analysts expect that Light & Wonder, Inc. will post 3.78 earnings per share for the current year.

Insider Buying and Selling

In other Light & Wonder news, CAO Vanja Kalabic sold 1,149 shares of the business’s 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 sale, the chief accounting officer now owns 1,600 shares of the company’s stock, valued at approximately $161,152. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Light & Wonder news, CFO Oliver Chow sold 1,273 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $101.19, for a total transaction of $128,814.87. Following the sale, the chief financial officer now owns 1,517 shares of the company’s stock, valued at approximately $153,505.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Vanja Kalabic sold 1,149 shares of the business’s 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 sale, the chief accounting officer now directly owns 1,600 shares in the company, valued at approximately $161,152. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,537 shares of company stock valued at $760,427. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LNW. Redburn Atlantic lowered 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 report on Monday, March 11th. Susquehanna upped their target price 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. Truist Financial increased their price objective on shares of Light & Wonder from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Benchmark started coverage on shares of Light & Wonder in a research note on Tuesday, January 16th. They issued a “buy” rating and a $92.00 price objective for the company. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $103.00 price objective (up previously from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.