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LAS VEGAS—Lane Siobhan, Senior Vice President and CEO of Gaming at Light & Wonder, Inc. (NASDAQ:LNW), has sold shares of the company’s stock in a recent transaction, according to a Form 4 filing with the Securities and Exchange Commission. On March 6, Siobhan sold 3,784 shares at a price of $105.37 per share, amounting to a total of $398,720.
Earlier, on March 5, Siobhan acquired 6,629 shares of common stock through the exercise of restricted stock units, which were granted as part of a compensation package for the 2024 fiscal year. These shares were acquired at no cost, and subsequently, 2,845 shares were withheld to satisfy tax obligations, valued at $106.19 per share.
Following these transactions, Siobhan holds 21,254 shares of Light & Wonder’s common stock directly. The transactions reflect routine management of equity compensation and align with standard practices for corporate executives.
In other recent news, Light & Wonder has announced its fourth-quarter financial results for 2024, revealing an earnings per share (EPS) of $1.42, significantly exceeding the expected $0.94. The company’s revenue for the quarter was $797 million, slightly below the anticipated $805 million, yet it marked a 4% year-over-year increase. Light & Wonder’s Adjusted EBITDA also surpassed expectations, reaching $315 million, which was higher than both Mizuho (NYSE:MFG)’s estimate and the consensus forecast. The company has maintained its guidance for a full-year 2025 EBITDA of $1.4 billion, driven by expected revenue growth in segments like Gaming, SciPlay (NASDAQ:SCPL), and iGaming.
In a strategic move, Light & Wonder is set to acquire Grover Gaming, with the transaction expected to close in the second quarter of 2025. This acquisition is aimed at diversifying revenue streams and enhancing the company’s market presence. Analyst firms have weighed in on these developments, with Benchmark raising its price target for Light & Wonder to $130, maintaining a Buy rating, while Mizuho increased its target to $80 but kept an Underperform rating. Macquarie also raised its price target to $125, maintaining an Outperform rating, citing growth in North American Gaming Operations and the potential impact of Grover Gaming’s inclusion.
Additionally, Light & Wonder has been actively executing a $1 billion share repurchase program, having bought back $243 million worth of shares in the fourth quarter alone. The company continues to explore expansion into international markets, including Brazil, as part of its long-term growth strategy. Despite challenges in the land-based gaming sector, Light & Wonder remains optimistic about its future prospects, supported by a strong content pipeline and disciplined financial management.
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