Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Comerica Bank

Comerica Bank lowered its position in Light & Wonder, Inc. (NASDAQ:LNW) by 62.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,130 shares of the company’s stock after selling 26,773 shares during the quarter. Comerica Bank’s holdings in Light & Wonder were worth $1,393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inceptionr LLC acquired a new position in shares of Light & Wonder during the fourth quarter worth about $261,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Light & Wonder during the fourth quarter worth about $596,000. AXQ Capital LP lifted its stake in shares of Light & Wonder by 94.6% during the fourth quarter. AXQ Capital LP now owns 7,198 shares of the company’s stock worth $622,000 after purchasing an additional 3,500 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Light & Wonder by 29.2% during the fourth quarter. Teacher Retirement System of Texas now owns 23,903 shares of the company’s stock worth $2,065,000 after purchasing an additional 5,397 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Light & Wonder by 107.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 20,528 shares of the company’s stock worth $1,756,000 after purchasing an additional 10,647 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Insider Buying and Selling at Light & Wonder

In other news, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total transaction of $118,192.12. Following the sale, the chief accounting officer now directly owns 5,016 shares in the company, valued at approximately $523,720.56. This represents a 18.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the sale, the chief executive officer now owns 21,254 shares in the company, valued at $2,239,533.98. The trade was a 15.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock worth $1,037,884 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LNW has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Benchmark lifted their target price on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Truist Financial dropped their target price on Light & Wonder from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus lifted their target price on Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Light & Wonder has a consensus rating of “Moderate Buy” and a consensus price target of $109.55.

Light & Wonder Trading Up 1.5%

Shares of NASDAQ LNW opened at $81.74 on Monday. The stock’s 50 day moving average price is $90.64 and its two-hundred day moving average price is $92.48. Light & Wonder, Inc. has a 52-week low of $75.46 and a 52-week high of $115.00. The stock has a market capitalization of $6.90 billion, a P/E ratio of 25.39, a PEG ratio of 0.35 and a beta of 1.30. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. The firm had revenue of $774.00 million for the quarter, compared to analyst estimates of $802.93 million. During the same quarter in the previous year, the company earned $0.88 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, analysts anticipate that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Light & Wonder 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.