QRG Capital Management Inc. Has $485,000 Holdings in Light & Wonder, Inc. $LNW

QRG Capital Management Inc. reduced its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,034 shares of the company’s stock after selling 327 shares during the quarter. QRG Capital Management Inc.’s holdings in Light & Wonder were worth $485,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in Light & Wonder by 3,861.1% during the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock valued at $63,000 after purchasing an additional 695 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Light & Wonder during the 1st quarter valued at $71,000. CX Institutional acquired a new position in Light & Wonder during the 1st quarter valued at $87,000. US Bancorp DE raised its stake in Light & Wonder by 18.7% during the 1st quarter. US Bancorp DE now owns 1,164 shares of the company’s stock valued at $101,000 after purchasing an additional 183 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Light & Wonder by 217.8% during the 1st quarter. GAMMA Investing LLC now owns 1,265 shares of the company’s stock valued at $110,000 after purchasing an additional 867 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Light & Wonder

In related news, Director Timothy Throsby acquired 20,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $89.37 per share, with a total value of $1,787,400.00. Following the acquisition, the director directly owned 42,082 shares in the company, valued at $3,760,868.34. The trade was a 90.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Jamie Odell acquired 8,275 shares of the firm’s stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $78.81 per share, for a total transaction of $652,152.75. Following the acquisition, the director owned 8,275 shares in the company, valued at approximately $652,152.75. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 37,756 shares of company stock worth $3,209,088 in the last quarter. Insiders own 2.20% of the company’s stock.

Light & Wonder Trading Down 0.9%

Shares of Light & Wonder stock opened at $79.35 on Friday. Light & Wonder, Inc. has a 12-month low of $69.56 and a 12-month high of $113.94. The company has a 50-day simple moving average of $87.39 and a 200 day simple moving average of $88.48. 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 stock has a market capitalization of $6.66 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 0.49 and a beta of 1.45.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was down 1.1% on a year-over-year basis. Research analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Zacks Research cut shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. cut shares of Light & Wonder from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $108.00 to $95.00 in a research note on Thursday, August 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Light & Wonder in a research note on Wednesday. Benchmark dropped their price objective 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. Finally, Macquarie dropped their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Light & Wonder presently has a consensus rating of “Hold” and a consensus price target 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.