Arrowstreet Capital Limited Partnership lowered its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 33.9% in the fourth quarter, according to the company in its most recent 13F filing with the 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 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Light & Wonder during the 4th quarter worth $91,683,000. FMR LLC lifted its stake in shares of Light & Wonder by 28.7% in the third 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 period. Barclays PLC boosted its holdings in Light & Wonder by 539.6% during the third quarter. Barclays PLC now owns 155,852 shares of the company's stock worth $14,142,000 after buying an additional 131,486 shares in the last quarter. Vanguard Group Inc. increased its holdings in Light & Wonder by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock valued at $733,584,000 after buying an additional 100,527 shares in the last quarter. Finally, State Street Corp increased its holdings in Light & Wonder by 2.2% in 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 in the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.
Light & Wonder Trading Down 8.6 %
Shares of NASDAQ LNW traded down $7.95 on Thursday, reaching $84.00. 1,489,941 shares of the company traded hands, compared to its average volume of 741,824. The stock has a market capitalization of $7.10 billion, a PE ratio of 26.09, a P/E/G ratio of 0.35 and a beta of 1.59. Light & Wonder, Inc. has a fifty-two week low of $82.74 and a fifty-two week high of $115.00. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The company has a 50 day moving average of $98.37 and a 200 day moving average of $95.30.
Insider Buying and Selling at Light & Wonder
In related news, 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 transaction, the chief executive officer now owns 21,254 shares in the company, valued at approximately $2,239,533.98. This trade represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total transaction of $118,192.12. Following the sale, the chief accounting officer now owns 5,016 shares of the company's stock, valued at approximately $523,720.56. This represents a 18.41 % 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 worth $1,037,884 in the last quarter. 2.10% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Benchmark raised their price target on Light & Wonder from $114.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Stifel Nicolaus decreased their price objective on shares of Light & Wonder from $104.00 to $93.00 and set a "hold" rating on the stock in a research report on Thursday. Mizuho raised their target price on shares of Light & Wonder from $76.00 to $80.00 and gave the company an "underperform" rating in a report on Wednesday, February 26th. Finally, Macquarie upped their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Light & Wonder presently has an average rating of "Moderate Buy" and a consensus price target of $109.91.
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About Light & Wonder
(
Free Report)
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.
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