Los Angeles Capital Management LLC Boosts Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Los Angeles Capital Management LLC raised its position in Light & Wonder, Inc. (NASDAQ:LNW) by 128.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,015 shares of the company’s stock after acquiring an additional 10,702 shares during the period. Los Angeles Capital Management LLC’s holdings in Light & Wonder were worth $1,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Light & Wonder in the third quarter valued at $31,000. DekaBank Deutsche Girozentrale purchased a new stake in Light & Wonder during the third quarter worth about $36,000. SG Americas Securities LLC grew its position in Light & Wonder by 30.8% during the third quarter. SG Americas Securities LLC now owns 2,256 shares of the company’s stock worth $161,000 after buying an additional 531 shares during the period. CI Investments Inc. increased its holdings in Light & Wonder by 1,789.1% in the third quarter. CI Investments Inc. now owns 2,418 shares of the company’s stock valued at $172,000 after buying an additional 2,290 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Light & Wonder during the 3rd quarter valued at approximately $221,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Up 3.1 %

Shares of NASDAQ:LNW opened at $97.84 on Wednesday. The company has a 50 day moving average of $97.68 and a 200-day moving average of $88.17. 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 firm has a market cap of $8.84 billion, a P/E ratio of 55.59 and a beta of 1.80. Light & Wonder, Inc. has a twelve month low of $56.01 and a twelve month high of $108.90.

Light & Wonder (NASDAQ:LNW) last issued its quarterly 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 firm had revenue of $770.00 million for the quarter, compared to analyst estimates of $748.30 million. During the same quarter last year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, analysts anticipate that Light & Wonder, Inc. will post 3.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LNW shares. Macquarie lifted their price objective on Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Stifel Nicolaus reiterated a “hold” rating and set a $103.00 target price (up previously from $97.00) on shares of Light & Wonder in a report on Thursday, March 14th. Redburn Atlantic cut Light & Wonder from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $105.00 to $110.00 in a report on Monday, March 11th. JPMorgan Chase & Co. lifted their price target on shares of Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Finally, Susquehanna boosted their price target on Light & Wonder from $100.00 to $111.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. One investment 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, Light & Wonder currently has an average rating of “Moderate Buy” and a consensus target price of $96.75.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, VP James Sottile sold 1,549 shares of Light & Wonder 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 transaction, the vice president now owns 57,478 shares in the company, valued at $5,813,899.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Light & Wonder news, VP James Sottile sold 1,549 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $101.15, for a total transaction of $156,681.35. Following the sale, the vice president now owns 57,478 shares in the company, valued at approximately $5,813,899.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Oliver Chow sold 1,273 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $101.19, for a total transaction of $128,814.87. Following the completion of the transaction, the chief financial officer now owns 1,517 shares of the company’s stock, valued at $153,505.23. The disclosure for this sale can be found here. In the last three months, insiders sold 7,537 shares of company stock valued at $760,427. 2.10% of the stock is owned by insiders.

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.