Westpac Banking Corp Acquires Shares of 53,787 Light & Wonder, Inc. (NASDAQ:LNW)

Westpac Banking Corp bought a new stake in Light & Wonder, Inc. (NASDAQ:LNWFree Report) during the 4th quarter, Holdings Channel reports. The firm bought 53,787 shares of the company’s stock, valued at approximately $4,441,000.

A number of other institutional investors have also modified their holdings of LNW. USA Financial Formulas purchased a new position in Light & Wonder in the 4th quarter valued at $62,000. Los Angeles Capital Management LLC raised its stake in shares of Light & Wonder by 128.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 19,015 shares of the company’s stock worth $1,561,000 after buying an additional 10,702 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Light & Wonder by 4.2% in the 4th quarter. Natixis Advisors L.P. now owns 15,135 shares of the company’s stock valued at $1,242,000 after buying an additional 610 shares during the period. Semanteon Capital Management LP purchased a new stake in shares of Light & Wonder in the fourth quarter valued at approximately $1,152,000. Finally, New York State Common Retirement Fund raised its position in Light & Wonder by 1.0% in the fourth quarter. New York State Common Retirement Fund now owns 36,550 shares of the company’s stock worth $3,001,000 after acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Insider Transactions at Light & Wonder

In related news, CEO Siobhan Lane sold 3,566 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $100.73, for a total value of $359,203.18. Following the completion of the sale, the chief executive officer now directly owns 11,302 shares in the company, valued at $1,138,450.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 transaction, the vice president now directly owns 57,478 shares of the company’s stock, valued at approximately $5,813,899.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Siobhan Lane sold 3,566 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $100.73, for a total transaction of $359,203.18. Following the sale, the chief executive officer now directly owns 11,302 shares of the company’s stock, valued at approximately $1,138,450.46. The disclosure for this sale can be found here. Insiders have sold 7,537 shares of company stock worth $760,427 over the last quarter. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LNW has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Benchmark initiated coverage on shares of Light & Wonder in a report on Tuesday, January 16th. They issued a “buy” rating and a $92.00 target price for the company. Redburn Atlantic lowered 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 research note on Monday, March 11th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $103.00 price objective (up from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th. Finally, Susquehanna cut Light & Wonder from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $111.00 to $95.00 in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Light & Wonder has an average rating of “Hold” and a consensus price target of $95.08.

Read Our Latest Analysis on LNW

Light & Wonder Price Performance

Shares of LNW traded up $1.40 during trading hours on Wednesday, reaching $94.39. 315,763 shares of the company traded hands, compared to its average volume of 591,112. The stock has a fifty day simple moving average of $96.99 and a 200 day simple moving average of $88.98. Light & Wonder, Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $108.90. The stock has a market capitalization of $8.51 billion, a PE ratio of 38.59 and a beta of 1.80. The company has a quick ratio of 1.72, a current ratio of 1.98 and a debt-to-equity ratio of 4.61.

Light & Wonder (NASDAQ:LNWGet Free Report) last issued 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). Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. The firm had revenue of $770.00 million for the quarter, compared to analysts’ expectations of $748.30 million. During the same quarter last year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, research analysts predict that Light & Wonder, Inc. will post 3.89 EPS for the current fiscal year.

Light & Wonder Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Light & Wonder (NASDAQ:LNW)

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