Bank of Nova Scotia acquired a new position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 185,459 shares of the company's stock, valued at approximately $16,020,000. Bank of Nova Scotia owned about 0.21% of Light & Wonder as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of the business. R Squared Ltd bought a new position in Light & Wonder during the fourth quarter worth $35,000. Blue Trust Inc. increased its position in shares of Light & Wonder by 194.3% in the fourth quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after acquiring an additional 474 shares during the period. Neo Ivy Capital Management bought a new stake in Light & Wonder during the third quarter valued at about $104,000. Sanctuary Advisors LLC purchased a new stake in shares of Light & Wonder during the third quarter valued at about $222,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Light & Wonder in the 4th quarter worth about $224,000. 88.08% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. Jefferies Financial Group raised their price target on Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Mizuho raised their target price on Light & Wonder from $76.00 to $80.00 and gave the company an "underperform" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted 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. Finally, Macquarie raised their target price on Light & Wonder from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. 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 issued a strong buy rating to the company. According to MarketBeat, Light & Wonder has an average rating of "Moderate Buy" and a consensus target price of $109.91.
View Our Latest Stock Analysis on LNW
Light & Wonder Stock Performance
Shares of NASDAQ:LNW remained flat at $80.36 during mid-day trading on Wednesday. The company had a trading volume of 141,645 shares, compared to its average volume of 766,852. Light & Wonder, Inc. has a 1-year low of $75.46 and a 1-year high of $115.00. The stock's 50-day moving average price is $96.73 and its 200 day moving average price is $93.53. 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 firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 0.35 and a beta of 1.38.
Insider Buying and Selling
In other news, VP James Sottile sold 2,356 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the transaction, the vice president now owns 77,331 shares of the company's stock, valued at $8,161,513.74. This represents a 2.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief accounting officer now owns 5,016 shares in the company, valued at approximately $523,720.56. This trade represents a 18.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock worth $1,037,884 in the last quarter. Insiders own 2.10% of the company's stock.
Light & Wonder Company Profile
(
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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