AlphaQuest LLC Has $31,000 Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

AlphaQuest LLC trimmed its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 90.4% during the fourth quarter, Holdings Channel reports. The firm owned 355 shares of the company’s stock after selling 3,361 shares during the period. AlphaQuest LLC’s holdings in Light & Wonder were worth $31,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in LNW. Inceptionr LLC acquired a new position in shares of Light & Wonder in the 4th quarter worth approximately $261,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Light & Wonder in the 4th quarter worth approximately $596,000. Ieq Capital LLC boosted its holdings in shares of Light & Wonder by 590.3% in the 4th quarter. Ieq Capital LLC now owns 20,343 shares of the company’s stock worth $1,757,000 after acquiring an additional 17,396 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Light & Wonder by 0.5% in the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock worth $3,477,000 after acquiring an additional 200 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Light & Wonder by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock worth $510,000 after acquiring an additional 146 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Stock Performance

Shares of Light & Wonder stock opened at $103.67 on Friday. The firm has a fifty day moving average of $97.11 and a two-hundred day moving average of $96.02. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 0.35 and a beta of 1.59. Light & Wonder, Inc. has a 52 week low of $84.00 and a 52 week high of $115.00. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88.

Insider Buying and Selling at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were 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 owns 5,016 shares in the company, valued at $523,720.56. This represents a 18.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Siobhan Lane sold 3,784 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total transaction of $398,720.08. Following the completion of the sale, the chief executive officer now owns 21,254 shares of the company’s stock, valued at approximately $2,239,533.98. This represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,867 shares of company stock worth $1,037,884. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

LNW has been the topic of several recent analyst reports. Mizuho boosted their target price on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. Macquarie upped their price objective on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Benchmark upped their price objective on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Jefferies Financial Group upped their price objective on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $110.91.

Light & Wonder 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.