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

Vanguard Group Inc. raised its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,492,524 shares of the company’s stock after acquiring an additional 100,527 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Light & Wonder worth $733,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LNW. FMR LLC raised its stake in Light & Wonder by 28.7% in the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock valued at $131,745,000 after purchasing an additional 324,088 shares during the last quarter. Barclays PLC raised its position in shares of Light & Wonder by 539.6% in the third quarter. Barclays PLC now owns 155,852 shares of the company’s stock valued at $14,142,000 after buying an additional 131,486 shares during the last quarter. State Street Corp lifted its stake in shares of Light & Wonder by 2.2% during the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock valued at $240,582,000 after buying an additional 56,890 shares during the period. Iridian Asset Management LLC CT boosted its position in Light & Wonder by 94.3% during the fourth quarter. Iridian Asset Management LLC CT now owns 100,192 shares of the company’s stock worth $8,655,000 after acquiring an additional 48,621 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Light & Wonder by 393.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,554 shares of the company’s stock worth $3,589,000 after acquiring an additional 33,136 shares during the period. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Light & Wonder Trading Down 10.3 %

Shares of LNW stock opened at $89.09 on Monday. Light & Wonder, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $115.00. The firm’s 50 day moving average price is $98.48 and its two-hundred day moving average price is $95.66. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Wall Street Analysts Forecast Growth

LNW has been the topic of a number of recent analyst reports. Benchmark increased their price target on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. 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 research report on Wednesday, February 26th. Mizuho raised their price target on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 26th. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Macquarie raised their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” 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 issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.91.

Insider Activity at Light & Wonder

In related news, VP James Sottile sold 2,356 shares of the business’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 transaction of $248,652.24. Following the transaction, the vice president now directly owns 77,331 shares of the company’s stock, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the completion of the sale, the chief accounting officer now directly owns 5,016 shares of the company’s stock, valued at $523,720.56. This trade represents a 18.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is currently owned by corporate insiders.

About Light & Wonder

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.