Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,885 shares of the company’s stock after purchasing an additional 2,326 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Light & Wonder were worth $1,890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CIBC Asset Management Inc boosted its holdings in Light & Wonder by 2.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock valued at $510,000 after purchasing an additional 146 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Light & Wonder by 0.5% in the fourth quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock valued at $3,477,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC purchased a new position in Light & Wonder in the third quarter valued at about $28,000. R Squared Ltd purchased a new position in Light & Wonder in the fourth quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC boosted its holdings in Light & Wonder by 2.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 21,858 shares of the company’s stock valued at $1,888,000 after purchasing an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Insider Activity at Light & Wonder

In related news, VP James Sottile sold 2,356 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the sale, the vice president now directly owns 77,331 shares in the company, valued at $8,161,513.74. This trade represents a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Vanja Kalabic sold 1,132 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total value of $118,192.12. Following the completion of the sale, the chief accounting officer now directly owns 5,016 shares in the company, valued at $523,720.56. This represents a 18.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock worth $1,037,884 in the last three months. 2.10% of the stock is owned by company insiders.

Light & Wonder Stock Up 1.0 %

LNW opened at $104.71 on Tuesday. Light & Wonder, Inc. has a 12 month low of $84.00 and a 12 month high of $115.00. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The stock has a market cap of $8.84 billion, a P/E ratio of 32.52, a P/E/G ratio of 0.35 and a beta of 1.59. The stock’s 50 day moving average price is $95.63 and its 200 day moving average price is $95.99.

Analyst Upgrades and Downgrades

A number of research firms have commented on LNW. Jefferies Financial Group increased their target price on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Macquarie increased their target price on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Mizuho increased their price target on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Light & Wonder currently has an average rating of “Moderate Buy” and a consensus target price of $110.91.

Light & Wonder Company Profile

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.