Mutual of America Capital Management LLC Sells 3,487 Shares of Light & Wonder, Inc. $LNW

Mutual of America Capital Management LLC lessened its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,962 shares of the company’s stock after selling 3,487 shares during the period. Mutual of America Capital Management LLC’s holdings in Light & Wonder were worth $4,039,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Burgundy Asset Management Ltd. lifted its stake in Light & Wonder by 6.9% in the first quarter. Burgundy Asset Management Ltd. now owns 1,574,589 shares of the company’s stock valued at $136,375,000 after buying an additional 102,051 shares in the last quarter. Bessemer Group Inc. lifted its position in Light & Wonder by 321.7% in the 1st quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company’s stock valued at $136,152,000 after acquiring an additional 1,199,213 shares in the last quarter. Ninety One UK Ltd lifted its position in Light & Wonder by 56.7% in the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock valued at $101,728,000 after acquiring an additional 425,202 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Light & Wonder by 0.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 901,778 shares of the company’s stock valued at $78,104,000 after purchasing an additional 3,472 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Light & Wonder by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 733,888 shares of the company’s stock valued at $63,562,000 after purchasing an additional 7,544 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Insider Activity

In other Light & Wonder news, Director Antonia Korsanos acquired 8,065 shares of the company’s stock in a transaction on Sunday, August 10th. The shares were purchased at an average price of $80.05 per share, for a total transaction of $645,603.25. Following the completion of the purchase, the director directly owned 22,815 shares of the company’s stock, valued at approximately $1,826,340.75. This represents a 54.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hamish Mclennan acquired 1,380 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $87.61 per share, for a total transaction of $120,901.80. Following the purchase, the director directly owned 6,380 shares of the company’s stock, valued at approximately $558,951.80. This trade represents a 27.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 37,756 shares of company stock valued at $3,209,088 in the last 90 days. 2.20% of the stock is owned by company insiders.

Light & Wonder Trading Up 1.9%

Shares of Light & Wonder stock opened at $76.37 on Thursday. Light & Wonder, Inc. has a 12-month low of $69.56 and a 12-month high of $113.94. The stock has a market cap of $6.41 billion, a P/E ratio of 19.29, a P/E/G ratio of 0.46 and a beta of 1.45. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86. The business’s 50 day moving average is $85.90 and its 200-day moving average is $87.73.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.14. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The firm had revenue of $809.00 million for the quarter, compared to analyst estimates of $851.29 million. During the same period in the prior year, the firm posted $0.90 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LNW has been the topic of a number of research reports. Macquarie cut their price target on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Truist Financial boosted their target price on Light & Wonder from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lowered shares of Light & Wonder from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $108.00 to $95.00 in a research report on Thursday, August 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Light & Wonder in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group set a $116.00 price objective on shares of Light & Wonder in a research report on Wednesday, June 25th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $103.86.

About Light & Wonder

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.