Chesapeake Capital Corp IL Purchases New Shares in Light & Wonder, Inc. (NASDAQ:LNW)

Chesapeake Capital Corp IL acquired a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,214 shares of the company’s stock, valued at approximately $757,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in shares of Light & Wonder in the 3rd quarter valued at $31,000. DekaBank Deutsche Girozentrale bought a new stake in Light & Wonder during the 3rd quarter worth about $36,000. USA Financial Formulas bought a new stake in Light & Wonder during the 4th quarter worth about $62,000. Quadrant Capital Group LLC lifted its position in Light & Wonder by 44.1% during the 4th quarter. Quadrant Capital Group LLC now owns 869 shares of the company’s stock valued at $71,000 after purchasing an additional 266 shares during the period. Finally, CI Investments Inc. boosted its stake in shares of Light & Wonder by 1,789.1% in the 3rd quarter. CI Investments Inc. now owns 2,418 shares of the company’s stock valued at $172,000 after purchasing an additional 2,290 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Insider Transactions at Light & Wonder

In other news, VP James Sottile sold 1,549 shares of the business’s 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 sale, the vice president now 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 SEC, which is accessible through the SEC website. In other news, 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 value of $156,681.35. Following the completion of the transaction, the vice president now owns 57,478 shares in the company, valued at approximately $5,813,899.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Vanja Kalabic sold 1,149 shares of Light & Wonder 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 directly owns 1,600 shares in the company, valued at approximately $161,152. The disclosure for this sale can be found here. Insiders sold 7,537 shares of company stock valued at $760,427 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Light & Wonder Stock Up 0.2 %

LNW traded up $0.19 during trading on Friday, hitting $94.74. The company had a trading volume of 535,697 shares, compared to its average volume of 717,673. The company has a market capitalization of $8.54 billion, a PE ratio of 39.31 and a beta of 1.80. The company has a quick ratio of 1.72, a current ratio of 1.98 and a debt-to-equity ratio of 4.61. Light & Wonder, Inc. has a one year low of $56.01 and a one year high of $108.90. The firm’s 50-day moving average price is $95.96 and its 200 day moving average price is $90.00.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data 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). Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. The firm 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 earned $0.12 earnings per share. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts expect that Light & Wonder, Inc. will post 4.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Light & Wonder from $98.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $103.00 price objective (up from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th. Redburn Atlantic downgraded Light & Wonder from a “buy” rating to a “neutral” rating and upped their price objective for the company from $105.00 to $110.00 in a report on Monday, March 11th. Truist Financial raised their target price on Light & Wonder from $90.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Susquehanna cut Light & Wonder from a “positive” rating to a “neutral” rating and lowered their price target for the company from $111.00 to $95.00 in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.08.

Light & Wonder 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.