Fine Capital Partners, together with Debra Fine, disclosed a series of stock sales in Light & Wonder, Inc. (NASDAQ: LNWO) executed on January 27, 2026. The group sold a total of 9,037 common shares in multiple transactions, generating combined proceeds of $1,024,401.
Transaction prices ranged from $112.2933 to $113.9387 per share. Following these dispositions, Fine Capital Partners still holds 8,151,955 shares of Light & Wonder. The filing identifies the reporting entities as Fine Capital Partners, L.P., Fine Capital Advisors, LLC, and Debra Fine.
These disclosures coincide with the company's release of third-quarter 2025 financial results. Light & Wonder reported earnings per share (EPS) of $1.81 for the quarter, outpacing the consensus forecast of $1.39. The EPS outcome represents a 30.22% positive surprise relative to expectations.
Revenue for the same quarter totaled $841 million, which fell short of the $866.79 million forecast, a shortfall of 2.98%. The combination of an EPS beat and a revenue miss produces a mixed financial picture for the quarter, with profitability metrics exceeding estimates even as top-line sales did not meet analyst projections.
The juxtaposition of an insider sale and mixed quarterly results provides investors with distinct data points to consider. The insider sale was executed through multiple trades and did not exhaust the reporting party's holdings, which remain in excess of eight million shares. The quarterly results show stronger-than-expected per-share profitability alongside a modest revenue shortfall.
Summary of key facts
- Insider sale: 9,037 shares sold on January 27, 2026 for $1,024,401 in aggregate.
- Price range: $112.2933 - $113.9387 per share.
- Post-sale holdings: Fine Capital Partners retains 8,151,955 shares.
- Q3 2025 results: EPS $1.81 (vs. $1.39 forecast), revenue $841 million (vs. $866.79 million forecast).
Context and considerations
The reported sale and the quarter's financials present two separate pieces of information that market participants may weigh differently. The disclosures specify the identities of the reporting entities and the exact trade prices, and the earnings release provides specific EPS and revenue figures compared to forecasts. Together they form part of the ongoing financial narrative for Light & Wonder in the recent reporting period.