Transaction overview
Fine Capital Partners, L.P., together with Fine Capital Advisors, LLC, and Debra Fine, reported a sale of 5,694 shares of Light & Wonder, Inc. (NASDAQ: LNWO) executed on January 22, 2026. The shares were disposed of at a weighted average price range of $116.2783 to $116.4219, with an average price of $116.2875 per share, producing total proceeds of $662,141.
Holdings after the sale
After completing the transaction, Fine Capital Partners, L.P. continues to hold 8,160,992 shares of Light & Wonder. The filing specifies that the reported interest reflects the Reporting Persons' pecuniary interest arising from investments held through private funds.
Company performance context
The insider sale coincides with Light & Wonder's third-quarter 2025 financial results. The company reported earnings per share of $1.81, surpassing the consensus forecast of $1.39, a positive surprise of 30.22%. Revenue for the quarter came in at $841 million, compared with expectations of $866.79 million, representing a 2.98% shortfall. These mixed outcomes - a notable EPS beat paired with a modest revenue miss - are the most recent indicators of the company's quarterly performance and have drawn attention from analysts and investors.
Clear summary
In a single January 22, 2026 transaction, Fine Capital sold 5,694 Light & Wonder shares at an average price of $116.2875, realizing $662,141, while retaining a substantial stake of 8,160,992 shares. The sale is reported as part of holdings through private funds. The company’s Q3 2025 results showed a strong EPS beat of $1.81 versus $1.39 forecast, alongside a revenue miss of $841 million versus $866.79 million expected.
Key points
- Fine Capital and associated reporting persons sold 5,694 shares of LNWO on January 22, 2026, at a weighted average price averaging $116.2875 per share, totaling $662,141.
- Following the disposition, Fine Capital Partners, L.P. still holds 8,160,992 shares; the filing attributes the reported interest to investments in private funds.
- Light & Wonder’s Q3 2025 results were mixed: EPS of $1.81 beat the $1.39 estimate by 30.22%, while revenue of $841 million missed the $866.79 million expectation by 2.98%.
Risks and uncertainties
- The filing notes the reported position is held through private funds, which can obscure the timing and motives behind dispositions - an uncertainty relevant to shareholders and market observers.
- Light & Wonder’s revenue shortfall relative to estimates introduces uncertainty about near-term top-line momentum despite an EPS beat.
Impacted sectors
- Consumer gaming and leisure sectors, given Light & Wonder's business focus.
- Equity markets, particularly NASDAQ-listed gaming and consumer entertainment stocks where insider transactions and quarterly results can influence sentiment.
This report is limited to the facts disclosed in the filing and the company’s published third-quarter 2025 results. No additional inferences about motives or future trading are provided beyond the reported information.