Vanguard Group Inc. Boosts Position in Light & Wonder, Inc. (NASDAQ:LNW)

Vanguard Group Inc. raised its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,492,524 shares of the company’s stock after purchasing an additional 100,527 shares during the period. Vanguard Group Inc. owned 9.62% of Light & Wonder worth $733,584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LNW. LPL Financial LLC grew its position in shares of Light & Wonder by 12.2% in the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company’s stock valued at $231,000 after buying an additional 291 shares during the last quarter. AXQ Capital LP grew its holdings in shares of Light & Wonder by 94.6% during the fourth quarter. AXQ Capital LP now owns 7,198 shares of the company’s stock worth $622,000 after purchasing an additional 3,500 shares during the last quarter. American Century Companies Inc. increased its position in shares of Light & Wonder by 2.4% during the fourth quarter. American Century Companies Inc. now owns 14,951 shares of the company’s stock worth $1,291,000 after purchasing an additional 353 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Light & Wonder by 29.2% in the 4th quarter. Teacher Retirement System of Texas now owns 23,903 shares of the company’s stock valued at $2,065,000 after purchasing an additional 5,397 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Light & Wonder by 0.7% in the 4th quarter. Xponance Inc. now owns 17,769 shares of the company’s stock valued at $1,535,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Insider Transactions at Light & Wonder

In other news, CFO Oliver Chow sold 2,595 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $104.94, for a total transaction of $272,319.30. Following the sale, the chief financial officer now owns 3,695 shares of the company’s stock, valued at $387,753.30. The trade was a 41.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Siobhan Lane sold 3,784 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total value of $398,720.08. Following the completion of the transaction, the chief executive officer now directly owns 21,254 shares of the company’s stock, valued at $2,239,533.98. The trade was a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock valued at $1,037,884 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Light & Wonder Trading Down 10.3 %

Shares of LNW stock opened at $89.09 on Monday. Light & Wonder, Inc. has a 1-year low of $84.00 and a 1-year 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 business’s fifty day moving average price is $98.48 and its 200 day moving average price is $95.66. The firm has a market capitalization of $7.53 billion, a PE ratio of 27.67, a P/E/G ratio of 0.35 and a beta of 1.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LNW shares. Mizuho boosted their price objective on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, February 26th. Jefferies Financial Group increased their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus upped their target price on shares of Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. Finally, Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.