In a recent transaction, Antonia Korsanos, a director at Light & Wonder, Inc. (NASDAQ:LNW), acquired additional shares of the company's common stock. The purchase, made on May 13, 2024, involved 72 shares at a price of $91.51 per share, amounting to a total investment of approximately $6,588.
The transaction was reported in a filing with the Securities and Exchange Commission, which detailed the executive's increased stake in the company. Following the purchase, Korsanos's direct holdings in Light & Wonder, Inc. have grown, reflecting a vote of confidence in the firm's prospects.
Light & Wonder, Inc., known for its services in computer integrated systems design, has seen its stock traded under the ticker LNW on the NASDAQ exchange. The company, with its headquarters situated in Las Vegas, Nevada, has undergone various name changes in the past, previously recognized as Scientific Games (NASDAQ:LNW) Corp, Autotote Corp, and United Tote Inc.
It is noteworthy that the shares acquired by Korsanos are indirectly held through a child's account associated with Chess Depository Interests (CDIs). CDIs represent beneficial ownership in shares of common stock and are publicly traded on the Australian Securities Exchange (ASX). The reporting person has disclaimed beneficial ownership of the shares held by her child, indicating that the disclosure should not be interpreted as an admission of beneficial ownership for Section 16 or any other purpose.
This latest acquisition by a key insider at Light & Wonder, Inc. may be of interest to current and potential investors, signaling insider belief in the company's value and future performance. The precise impact of such insider transactions on the market and investor sentiment often varies, but they are typically seen as informative about the perspectives of those with intimate knowledge of the company.
InvestingPro Insights
Amidst the insider share acquisition by Director Antonia Korsanos at Light & Wonder, Inc. (NASDAQ: LNW), the company's financial health and stock performance metrics provide a broader context for investors. According to InvestingPro data, Light & Wonder boasts a substantial market capitalization of $8.38 billion as of the last twelve months leading up to Q1 2024. The company's revenue growth has been notable, with a 14.48% increase over the same period, signaling robust business expansion. Moreover, Light & Wonder's gross profit margin stands impressively at 70.25%, reflecting strong operational efficiency and cost management.
InvestingPro Tips highlight several key points that could further interest investors. Notably, Light & Wonder is expected to see net income growth this year, and the consensus among analysts is optimistic, with four analysts having revised their earnings projections upwards for the upcoming period. Additionally, the company has demonstrated strong profitability over the past year, which aligns with the insider purchase as a positive signal. It's also worth noting that Light & Wonder does not pay a dividend, which may be a consideration for income-focused investors.
For those considering a deeper dive into Light & Wonder's financials and stock performance, InvestingPro offers additional insights. There are currently 11 more InvestingPro Tips available, which can be accessed through the company-specific InvestingPro page. For a more comprehensive analysis and to unlock these valuable insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With the next earnings date set for August 6, 2024, investors will be keen to see if the company's performance aligns with the positive trends and insider confidence suggested by the recent share purchase and the InvestingPro data points.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.