Amalgamated Bank Sells 1,545 Shares of Light & Wonder, Inc. $LNW

Amalgamated Bank cut its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 3.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 40,408 shares of the company’s stock after selling 1,545 shares during the period. Amalgamated Bank’s holdings in Light & Wonder were worth $3,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LNW. Ninety One UK Ltd raised its stake in Light & Wonder by 56.7% during the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock valued at $101,728,000 after buying an additional 425,202 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Light & Wonder by 63.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,191 shares of the company’s stock valued at $363,000 after buying an additional 1,632 shares during the last quarter. Comerica Bank raised its stake in Light & Wonder by 141.4% during the 1st quarter. Comerica Bank now owns 38,936 shares of the company’s stock valued at $3,372,000 after buying an additional 22,806 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Light & Wonder during the 1st quarter valued at $320,000. Finally, Penserra Capital Management LLC raised its stake in Light & Wonder by 463.6% during the 1st quarter. Penserra Capital Management LLC now owns 12,738 shares of the company’s stock valued at $1,102,000 after buying an additional 10,478 shares during the last quarter. 88.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LNW. Benchmark decreased their target price on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Stifel Nicolaus decreased their target price on shares of Light & Wonder from $95.00 to $83.00 and set a “hold” rating for the company in a research note on Tuesday, October 28th. Zacks Research lowered Light & Wonder from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Wall Street Zen lowered Light & Wonder from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Light & Wonder in a research note on Friday. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Light & Wonder has an average rating of “Hold” and a consensus target price of $102.14.

Light & Wonder Trading Up 1.8%

NASDAQ:LNW opened at $72.70 on Monday. The company has a debt-to-equity ratio of 6.86, a current ratio of 1.77 and a quick ratio of 1.51. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 0.48 and a beta of 1.45. Light & Wonder, Inc. has a one year low of $69.56 and a one year high of $113.94. The business has a fifty day moving average price of $83.74 and a 200-day moving average price of $87.65.

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

Insider Activity

In other news, Director Antonia Korsanos bought 8,065 shares of the company’s stock in a transaction that occurred on Sunday, August 10th. The stock was bought at an average price of $80.05 per share, with a total value of $645,603.25. Following the acquisition, the director owned 22,815 shares of the company’s stock, valued at approximately $1,826,340.75. This represents a 54.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jamie Odell bought 8,275 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average cost of $78.81 per share, with a total value of $652,152.75. Following the acquisition, the director directly owned 8,275 shares in the company, valued at $652,152.75. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 37,756 shares of company stock worth $3,209,088. 2.20% of the stock is currently owned by corporate insiders.

Light & Wonder Company 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.