Arrowstreet Capital Limited Partnership Has $70.53 Million Position in Light & Wonder, Inc. (NASDAQ:LNW)

Arrowstreet Capital Limited Partnership cut its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 33.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 816,496 shares of the company's stock after selling 419,114 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.92% of Light & Wonder worth $70,529,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LNW. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Light & Wonder by 2.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company's stock valued at $387,000 after purchasing an additional 108 shares during the period. Xponance Inc. increased 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 buying an additional 120 shares in the last quarter. CIBC Asset Management Inc increased its position 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 valued at $510,000 after buying an additional 146 shares in the last quarter. New York State Common Retirement Fund raised its stake in Light & Wonder by 0.5% during the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company's stock worth $3,477,000 after buying an additional 200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Light & Wonder by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,559 shares of the company's stock worth $1,775,000 after acquiring an additional 281 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LNW. Mizuho raised 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. JPMorgan Chase & Co. raised their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a report 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. Macquarie increased their price objective 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. Finally, Jefferies Financial Group lifted their target price on Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $109.91.

Light & Wonder Stock Down 5.0 %

LNW traded down $4.22 during trading on Friday, reaching $79.78. 1,412,453 shares of the stock were exchanged, compared to its average volume of 746,526. The stock has a market cap of $6.74 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The stock's 50 day moving average price is $98.14 and its two-hundred day moving average price is $94.89. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00.

Insider Activity

In other Light & Wonder 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 transaction, the chief accounting officer now directly owns 5,016 shares in the company, valued at $523,720.56. The trade was a 18.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 21,254 shares in the company, 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. In the last ninety days, insiders have sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is owned by company 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.