In a recent transaction, Antonia Korsanos, a board member of Light & Wonder, Inc. (NASDAQ:LNW), acquired additional shares in the company. The purchase, which took place on May 17, 2024, involved 70 shares of common stock at a price of $95.04 per share, amounting to a total investment of $6,652.
The transaction was reported in a Form 4 filing with the Securities and Exchange Commission (SEC) and indicates an increased stake by Korsanos in the technology firm, which specializes in computer-integrated systems design. Following the purchase, the total number of shares owned by Korsanos is reported to be 10,000, according to the post-transaction amounts listed in the filing.
It's worth noting that the shares acquired were attributed to indirect ownership by Korsanos' child and are held as Chess Depository Interests (CDIs). CDIs represent ownership in shares of common stock that are publicly traded on the Australian Securities Exchange and are held by CHESS Depository Nominees Pty Limited. Korsanos has disclaimed beneficial ownership of these shares, as indicated in the footnotes of the SEC filing, emphasizing that the report should not be deemed an admission of beneficial ownership for Section 16 or any other legal purposes.
Investors and market watchers often look to insider transactions such as these for signals about the company's performance and prospects, as insiders may buy shares based on their confidence in the company's future. Light & Wonder's stock, traded under the ticker LNW on the NASDAQ, represents a segment of the market focused on advanced technology solutions.
InvestingPro Insights
Following the insider purchase by board member Antonia Korsanos, Light & Wonder, Inc. (NASDAQ:LNW) showcases several financial metrics and analyst expectations that may be of interest to investors. The company's market capitalization stands at a robust $8.41 billion, reflecting a significant presence in the technology sector. Additionally, Light & Wonder's gross profit margin over the last twelve months as of Q1 2024 is notably high at 70.25%, indicating efficient management and a potentially strong competitive advantage in its industry.
Investors considering Light & Wonder's stock should also note its Price to Earnings (P/E) ratio, which is currently 38.03, suggesting a higher market expectation of future earnings growth. This is further supported by the adjusted P/E ratio for the same period, which is slightly lower at 24.79, indicating a potential reevaluation of the company's earnings outlook. Moreover, the InvestingPro Tips highlight that analysts have revised their earnings upwards for the upcoming period, reflecting optimism about the company's financial performance.
For those interested in exploring these metrics further, InvestingPro offers additional insights. There are 11 more InvestingPro Tips available, which can provide a deeper analysis of Light & Wonder's financial health and market position. To access these tips, visit https://www.investing.com/pro/LNW and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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