Insider Buying: Light & Wonder, Inc. (NASDAQ:LNW) Director Acquires 8,065 Shares of Stock

Light & Wonder, Inc. (NASDAQ:LNW) Director Antonia Korsanos bought 8,065 shares of the company’s stock in a transaction that occurred on Sunday, August 10th. The stock was acquired at an average cost of $80.05 per share, for a total transaction of $645,603.25. Following the acquisition, the director directly owned 22,815 shares of the company’s stock, valued at $1,826,340.75. The trade was a 54.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Light & Wonder Stock Performance

NASDAQ LNW opened at $84.00 on Tuesday. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. Light & Wonder, Inc. has a 1 year low of $69.56 and a 1 year high of $115.00. The company has a market capitalization of $7.05 billion, a PE ratio of 21.21, a P/E/G ratio of 0.49 and a beta of 1.21. The company has a fifty day moving average of $92.57 and a two-hundred day moving average of $92.01.

Light & Wonder (NASDAQ:LNW) last announced its earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.14. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The business had revenue of $809.00 million during the quarter, compared to the consensus estimate of $851.29 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Institutional Investors Weigh In On Light & Wonder

Several hedge funds have recently made changes to their positions in LNW. LPL Financial LLC boosted its stake in shares of Light & Wonder by 12.2% during the fourth quarter. LPL Financial LLC now owns 2,677 shares of the company’s stock worth $231,000 after buying an additional 291 shares during the period. Federated Hermes Inc. boosted its stake in shares of Light & Wonder by 10.6% during the fourth quarter. Federated Hermes Inc. now owns 35,311 shares of the company’s stock worth $3,050,000 after buying an additional 3,397 shares during the period. Bank of Montreal Can boosted its stake in shares of Light & Wonder by 11.3% during the fourth quarter. Bank of Montreal Can now owns 10,818 shares of the company’s stock worth $934,000 after buying an additional 1,099 shares during the period. Invesco Ltd. boosted its stake in shares of Light & Wonder by 37.0% during the fourth quarter. Invesco Ltd. now owns 587,809 shares of the company’s stock worth $50,775,000 after buying an additional 158,790 shares during the period. Finally, Barclays PLC boosted its stake in shares of Light & Wonder by 4.4% during the fourth quarter. Barclays PLC now owns 162,770 shares of the company’s stock worth $14,061,000 after buying an additional 6,918 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LNW shares. JPMorgan Chase & Co. lowered Light & Wonder from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $108.00 to $95.00 in a report on Thursday, August 7th. Mizuho increased their target price on Light & Wonder from $80.00 to $84.00 and gave the company an “underperform” rating in a report on Thursday, May 8th. Stifel Nicolaus increased their target price on Light & Wonder from $84.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, May 8th. Benchmark dropped their target price on Light & Wonder from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Friday. Finally, Truist Financial increased their target price on Light & Wonder from $110.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.10.

Light & Wonder Company Profile

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.