Securian Asset Management Inc. Cuts Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Securian Asset Management Inc. lowered its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,599 shares of the company’s stock after selling 118 shares during the period. Securian Asset Management Inc.’s holdings in Light & Wonder were worth $624,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Level Four Advisory Services LLC bought a new position in Light & Wonder during the fourth quarter valued at approximately $387,000. Quadrant Capital Group LLC boosted its stake in Light & Wonder by 44.1% during the fourth quarter. Quadrant Capital Group LLC now owns 869 shares of the company’s stock valued at $71,000 after buying an additional 266 shares during the last quarter. M&G Investment Management Ltd. boosted its stake in Light & Wonder by 8.5% during the fourth quarter. M&G Investment Management Ltd. now owns 110,463 shares of the company’s stock valued at $9,058,000 after buying an additional 8,690 shares during the last quarter. Westpac Banking Corp bought a new position in Light & Wonder during the fourth quarter valued at approximately $4,441,000. Finally, USA Financial Formulas bought a new position in Light & Wonder during the fourth quarter valued at approximately $62,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Down 1.9 %

LNW opened at $95.11 on Thursday. The stock’s fifty day moving average is $96.19 and its two-hundred day moving average is $89.72. The company has a market capitalization of $8.57 billion, a P/E ratio of 39.46 and a beta of 1.80. Light & Wonder, Inc. has a 52 week low of $56.01 and a 52 week high of $108.90. 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:LNW) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.03). The firm had revenue of $770.00 million for the quarter, compared to analysts’ expectations of $748.30 million. Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. Analysts forecast that Light & Wonder, Inc. will post 4.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LNW shares. Truist Financial increased their price target on Light & Wonder from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. 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. JPMorgan Chase & Co. raised their price objective on Light & Wonder from $98.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Mizuho lowered their price objective on Light & Wonder from $83.00 to $79.00 and set an “underperform” rating for the company in a research note on Thursday, May 9th. Finally, Redburn Atlantic lowered Light & Wonder from a “buy” rating to a “neutral” rating and raised their price objective for the company from $105.00 to $110.00 in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.08.

Insiders Place Their Bets

In other news, VP James Sottile sold 1,549 shares of Light & Wonder stock in a transaction on 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 in the company, valued at approximately $5,813,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Vanja Kalabic sold 1,149 shares of Light & Wonder stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $100.72, for a total value of $115,727.28. Following the transaction, the chief accounting officer now directly owns 1,600 shares in the company, valued at approximately $161,152. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Sottile sold 1,549 shares of Light & Wonder stock in a transaction 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 completion of the transaction, the vice president now owns 57,478 shares in the company, valued at $5,813,899.70. The disclosure for this sale can be found here. Insiders have sold 7,537 shares of company stock worth $760,427 in the last ninety days. 2.10% of the stock is owned by company insiders.

Light & Wonder 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.