Westpac Banking Corp Invests $4.44 Million in Light & Wonder, Inc. (NASDAQ:LNW)

Westpac Banking Corp bought a new position in shares of Light & Wonder, Inc. (NASDAQ:LNWFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 53,787 shares of the company’s stock, valued at approximately $4,441,000. Westpac Banking Corp owned about 0.06% of Light & Wonder as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Headlands Technologies LLC bought a new position in Light & Wonder during the third quarter valued at $31,000. DekaBank Deutsche Girozentrale bought a new position in shares of Light & Wonder during the third quarter valued at approximately $36,000. USA Financial Formulas purchased a new position in Light & Wonder during the fourth quarter valued at approximately $62,000. SG Americas Securities LLC increased its holdings in Light & Wonder by 30.8% during the third quarter. SG Americas Securities LLC now owns 2,256 shares of the company’s stock valued at $161,000 after buying an additional 531 shares during the period. Finally, CI Investments Inc. raised its stake in Light & Wonder by 1,789.1% in the third quarter. CI Investments Inc. now owns 2,418 shares of the company’s stock worth $172,000 after buying an additional 2,290 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LNW shares. Mizuho cut their price target on Light & Wonder from $83.00 to $79.00 and set an “underperform” rating on the stock in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their target price on shares of Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Macquarie raised their price target on shares of Light & Wonder from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $103.00 price objective (up previously from $97.00) on shares of Light & Wonder in a research report on Thursday, March 14th. Finally, Truist Financial increased their target price on shares of Light & Wonder from $90.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $95.08.

Read Our Latest Report on Light & Wonder

Light & Wonder Stock Performance

LNW traded up $1.40 on Wednesday, reaching $94.39. 315,763 shares of the stock were exchanged, compared to its average volume of 591,112. Light & Wonder, Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $108.90. The firm has a market capitalization of $8.51 billion, a PE ratio of 38.59 and a beta of 1.80. The company has a debt-to-equity ratio of 4.61, a current ratio of 1.98 and a quick ratio of 1.72. The company’s 50-day moving average price is $96.99 and its 200 day moving average price is $88.98.

Light & Wonder (NASDAQ:LNWGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.03). The business had revenue of $770.00 million during the quarter, compared to analyst estimates of $748.30 million. Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. Light & Wonder’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.12 EPS. As a group, sell-side analysts forecast that Light & Wonder, Inc. will post 3.89 EPS for the current fiscal year.

Insider Activity at Light & Wonder

In other Light & Wonder news, CFO Oliver Chow sold 1,273 shares of Light & Wonder stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $101.19, for a total transaction of $128,814.87. Following the completion of the transaction, the chief financial officer now owns 1,517 shares in the company, valued at approximately $153,505.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP James Sottile sold 1,549 shares of the 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 directly owns 57,478 shares of the company’s stock, valued at $5,813,899.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Oliver Chow sold 1,273 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $101.19, for a total value of $128,814.87. Following the sale, the chief financial officer now owns 1,517 shares in the company, valued at $153,505.23. The disclosure for this sale can be found here. Insiders sold 7,537 shares of company stock worth $760,427 over the last three months. Company insiders own 2.10% of the company’s stock.

Light & Wonder Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Light & Wonder (NASDAQ:LNW)

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