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LAS VEGAS—Hamish McLennan, a director at Light & Wonder, Inc. (NASDAQ:LNW), recently sold shares of the company’s common stock valued at approximately $552,900, according to a filing with the Securities and Exchange Commission. The transaction, dated February 28, 2025, involved the sale of 5,000 shares at a price of $110.58 per share.
In addition to the sale, McLennan also acquired 5,000 shares through the exercise of stock options at a price of $34.12 per share. Following these transactions, McLennan holds 29,623 shares directly, with additional holdings in indirect accounts. According to InvestingPro analysis, Light & Wonder appears slightly undervalued at current levels, with 13 additional exclusive insights available to subscribers, including detailed valuation metrics and growth prospects.
The filing also notes McLennan’s indirect ownership through the Linyanti Holdings Pty Limited ATF McLennan Superannuation Fund and the Londolozi Pty Limited ATF Londolozi Family Trust, reflecting his role as a beneficiary and trustee, respectively.
In other recent news, Light & Wonder reported its fourth-quarter 2024 financial results, showcasing a strong earnings performance with an earnings per share (EPS) of $1.42, which significantly exceeded the forecasted $0.94. The company’s revenue for the quarter was $797 million, slightly below the expected $805 million but up 4% year-over-year. Despite a revenue shortfall, the company’s Adjusted EBITDA was $315 million, surpassing consensus estimates. Light & Wonder also reaffirmed its Adjusted EBITDA guidance for 2025 at $1.4 billion, supported by expected sustained revenue growth.
The company is in the process of acquiring Grover Gaming, with the deal anticipated to close in the second quarter of 2025, aiming to diversify its revenue streams further. Analyst firms have adjusted their outlooks on Light & Wonder following these developments. Benchmark raised its price target to $130, maintaining a Buy rating, while Mizuho (NYSE:MFG) increased its target to $80, retaining an Underperform rating. Macquarie also raised its price target to $125, maintaining an Outperform rating.
Light & Wonder continues to execute a $1 billion share repurchase program, having bought back $243 million worth of shares in the fourth quarter. Additionally, the company is planning to expand into international markets such as Brazil, while no significant U.S. iGaming legislation is expected in 2025. The company’s strategic initiatives are focused on long-term growth, leveraging a robust content pipeline and disciplined financial management practices.
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