Light & Wonder, Inc. (NASDAQ:LNW) Position Reduced by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,063 shares of the company’s stock after selling 160 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Light & Wonder were worth $76,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Retirement Systems of Alabama bought a new stake in shares of Light & Wonder in the 3rd quarter worth approximately $8,018,000. Renaissance Technologies LLC acquired a new position in Light & Wonder in the third quarter worth approximately $632,000. Royal Bank of Canada bought a new position in shares of Light & Wonder in the third quarter valued at $315,000. Macquarie Group Ltd. acquired a new stake in shares of Light & Wonder during the 3rd quarter valued at $124,000. Finally, First Trust Advisors LP bought a new stake in shares of Light & Wonder during the 3rd quarter worth $836,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Stock Down 1.8 %

LNW stock opened at $102.09 on Friday. 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 $9.17 billion, a PE ratio of 58.01 and a beta of 1.77. Light & Wonder, Inc. has a 1 year low of $56.01 and a 1 year high of $108.90. The company has a fifty day simple moving average of $92.92 and a 200 day simple moving average of $84.11.

Light & Wonder (NASDAQ:LNW) last released 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). The firm had revenue of $770.00 million during the quarter, compared to the consensus estimate of $748.30 million. Light & Wonder had a net margin of 5.58% and a return on equity of 23.68%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS. Sell-side analysts anticipate that Light & Wonder, Inc. will post 3.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LNW has been the subject of several analyst reports. Macquarie upped their target price on Light & Wonder from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Stifel Nicolaus reiterated a “hold” rating and set a $103.00 price target (up previously from $97.00) on shares of Light & Wonder in a report on Thursday, March 14th. Redburn Atlantic downgraded Light & Wonder from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $105.00 to $110.00 in a research note on Monday, March 11th. Benchmark started coverage on Light & Wonder in a report on Tuesday, January 16th. They issued a “buy” rating and a $92.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Light & Wonder from $98.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock 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 news, CAO Vanja Kalabic sold 1,149 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $100.72, for a total transaction of $115,727.28. Following the completion of the transaction, the chief accounting officer now directly owns 1,600 shares in the company, valued at $161,152. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Light & Wonder news, 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 transaction of $156,681.35. Following the sale, the vice president now owns 57,478 shares in the company, valued at $5,813,899.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Vanja Kalabic sold 1,149 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $100.72, for a total transaction of $115,727.28. Following the completion of the transaction, the chief accounting officer now owns 1,600 shares of the company’s stock, valued at approximately $161,152. The disclosure for this sale can be found here. Insiders sold 7,537 shares of company stock worth $760,427 over the last ninety days. Company insiders own 2.00% of the company’s stock.

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.