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

Shelton Capital Management lessened its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 9.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,361 shares of the company’s stock after selling 469 shares during the quarter. Shelton Capital Management’s holdings in Light & Wonder were worth $300,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LNW. Vanguard Group Inc. purchased a new position in Light & Wonder in the 3rd quarter worth $389,375,000. State Street Corp purchased a new position in Light & Wonder during the 3rd quarter worth approximately $128,003,000. Norges Bank acquired a new stake in Light & Wonder during the 4th quarter valued at approximately $87,241,000. Alliancebernstein L.P. purchased a new stake in shares of Light & Wonder in the 3rd quarter valued at $36,277,000. Finally, Balyasny Asset Management L.P. increased its stake in shares of Light & Wonder by 3,232.2% in the first quarter. Balyasny Asset Management L.P. now owns 522,860 shares of the company’s stock worth $31,398,000 after acquiring an additional 507,169 shares during the period. Hedge funds and other institutional investors own 85.98% of the company’s stock.

Insider Activity

In related news, CAO Vanja Kalabic sold 588 shares of Light & Wonder stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $86.36, for a total value of $50,779.68. Following the completion of the transaction, the chief accounting officer now owns 1,171 shares in the company, valued at $101,127.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Vanja Kalabic sold 588 shares of Light & Wonder stock in a transaction on Monday, November 13th. The stock was sold at an average price of $86.36, for a total value of $50,779.68. Following the completion of the transaction, the chief accounting officer now directly owns 1,171 shares in the company, valued at $101,127.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Maria T. Vullo sold 2,093 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $76.80, for a total value of $160,742.40. Following the sale, the director now owns 10,789 shares in the company, valued at approximately $828,595.20. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Light & Wonder Stock Performance

NASDAQ LNW opened at $86.11 on Tuesday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 2.48 and a current ratio of 2.78. The stock’s fifty day moving average is $76.04 and its two-hundred day moving average is $70.89. The firm has a market capitalization of $7.75 billion, a P/E ratio of 63.79 and a beta of 1.82. Light & Wonder, Inc. has a fifty-two week low of $53.77 and a fifty-two week high of $87.86.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.39. The business had revenue of $731.00 million during the quarter, compared to analysts’ expectations of $714.92 million. Light & Wonder had a return on equity of 17.11% and a net margin of 4.48%. On average, research analysts anticipate that Light & Wonder, Inc. will post 1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

LNW has been the topic of several analyst reports. TheStreet raised Light & Wonder from a “c” rating to a “b” rating in a research report on Friday, November 10th. Susquehanna upped their price objective on Light & Wonder from $86.00 to $100.00 and gave the stock a “positive” rating in a research report on Tuesday, November 14th. Truist Financial lifted their target price on shares of Light & Wonder from $86.00 to $88.00 and gave the company a “buy” rating in a report on Friday, November 10th. Redburn Partners assumed coverage on shares of Light & Wonder in a report on Tuesday, August 22nd. They set a “buy” rating and a $104.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Light & Wonder from $56.00 to $66.00 in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Light & Wonder has a consensus rating of “Hold” and a consensus price target of $81.33.

Light & Wonder Profile

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. It operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; table products, including shufflers; and perpetual licenses to gaming operators.