Mutual of America Capital Management LLC Trims Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Mutual of America Capital Management LLC trimmed its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 6.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,574 shares of the company’s stock after selling 3,573 shares during the period. Mutual of America Capital Management LLC owned 0.06% of Light & Wonder worth $4,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Moody Aldrich Partners LLC purchased a new stake in shares of Light & Wonder in the 4th quarter worth $6,848,000. XY Capital Ltd purchased a new stake in Light & Wonder in the 4th quarter worth $540,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Light & Wonder in the 4th quarter worth $361,000. Raymond James & Associates purchased a new stake in Light & Wonder in the 4th quarter worth $620,000. Finally, Vanguard Group Inc. increased its stake in Light & Wonder by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,152,926 shares of the company’s stock worth $652,878,000 after buying an additional 46,751 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LNW shares. Redburn Atlantic lowered Light & Wonder from a “buy” rating to a “neutral” rating and increased their price target for the stock from $105.00 to $110.00 in a research note on Monday, March 11th. JPMorgan Chase & Co. increased their price target on Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Benchmark started coverage on Light & Wonder in a research note on Tuesday, January 16th. They issued a “buy” rating and a $92.00 price target for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $103.00 price target (up previously from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th. Finally, Susquehanna raised their price objective on Light & Wonder from $100.00 to $111.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.75.

Insiders Place Their Bets

In other Light & Wonder news, CAO Vanja Kalabic sold 1,149 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $100.72, for a total value of $115,727.28. Following the completion of the sale, the chief accounting officer now owns 1,600 shares of the company’s stock, valued at $161,152. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Light & Wonder news, CAO Vanja Kalabic sold 1,149 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $100.72, for a total value of $115,727.28. Following the completion of the sale, the chief accounting officer now owns 1,600 shares of the company’s stock, valued at $161,152. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP James Sottile sold 1,549 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $101.15, for a total transaction of $156,681.35. Following the completion of the sale, the vice president now directly owns 57,478 shares of the company’s stock, valued at approximately $5,813,899.70. The disclosure for this sale can be found here. Insiders sold a total of 7,537 shares of company stock valued at $760,427 over the last 90 days. Insiders own 2.00% of the company’s stock.

Light & Wonder Stock Down 1.1 %

Shares of NASDAQ:LNW opened at $91.92 on Tuesday. 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 12 month low of $56.01 and a 12 month high of $108.90. The company has a 50-day moving average price of $96.88 and a 200 day moving average price of $86.20. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 52.23 and a beta of 1.78.

Light & Wonder (NASDAQ:LNW) last announced 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 business 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 firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 EPS. As a group, equities research analysts predict that Light & Wonder, Inc. will post 3.78 earnings per share for the current year.

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.