Eos Management L.P. Reduces Position in Light & Wonder, Inc. (NASDAQ:LNW)

Eos Management L.P. trimmed its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 21.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,930 shares of the company’s stock after selling 12,232 shares during the quarter. Light & Wonder comprises approximately 1.6% of Eos Management L.P.’s portfolio, making the stock its 14th largest holding. Eos Management L.P.’s holdings in Light & Wonder were worth $3,607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. increased its holdings in shares of Light & Wonder by 2.0% during the 4th quarter. Federated Hermes Inc. now owns 10,209 shares of the company’s stock worth $838,000 after buying an additional 196 shares during the last quarter. New York State Common Retirement Fund raised its position in Light & Wonder by 0.6% in the third quarter. New York State Common Retirement Fund now owns 36,200 shares of the company’s stock valued at $2,582,000 after purchasing an additional 200 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Light & Wonder by 1.6% in the 3rd quarter. Natixis Advisors L.P. now owns 14,525 shares of the company’s stock valued at $1,036,000 after purchasing an additional 234 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Light & Wonder by 2.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 15,032 shares of the company’s stock valued at $1,072,000 after purchasing an additional 305 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Light & Wonder by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 25,944 shares of the company’s stock worth $1,851,000 after purchasing an additional 384 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Light & Wonder Stock Down 1.7 %

Shares of LNW stock traded down $1.60 on Friday, reaching $91.31. 415,664 shares of the stock were exchanged, compared to its average volume of 577,624. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 51.88 and a beta of 1.78. The business’s 50 day moving average price is $97.59 and its 200 day moving average price is $87.25. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.04. Light & Wonder, Inc. has a twelve month low of $56.01 and a twelve month high of $108.90.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.03). Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. The business had revenue of $770.00 million for the quarter, compared to analyst estimates of $748.30 million. During the same period in the prior year, the company posted $0.12 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that Light & Wonder, Inc. will post 3.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus restated a “hold” rating and issued a $103.00 price objective (up from $97.00) on shares of Light & Wonder in a report on Thursday, March 14th. Macquarie upped their price objective on shares of Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. increased their price objective 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. Redburn Atlantic downgraded Light & Wonder from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $105.00 to $110.00 in a report on Monday, March 11th. Finally, Mizuho started coverage on shares of Light & Wonder in a report on Tuesday, March 26th. They issued an “underperform” rating and a $83.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Light & Wonder presently has an average rating of “Moderate Buy” and an average target price of $96.75.

Insiders Place Their Bets

In other Light & Wonder news, CEO Siobhan Lane sold 3,566 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $100.73, for a total transaction of $359,203.18. Following the transaction, the chief executive officer now owns 11,302 shares of the company’s stock, valued at $1,138,450.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Siobhan Lane sold 3,566 shares of the stock in a transaction 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 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. Over the last quarter, insiders have sold 7,537 shares of company stock valued at $760,427. 2.00% of the stock is owned by corporate insiders.

Light & Wonder Company 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.