Bessemer Group Inc. Raises Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Bessemer Group Inc. lifted its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 372,809 shares of the company's stock after purchasing an additional 56,378 shares during the period. Bessemer Group Inc. owned about 0.42% of Light & Wonder worth $32,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors purchased a new stake in shares of Light & Wonder in the 3rd quarter valued at approximately $261,000. Quarry LP acquired a new position in shares of Light & Wonder during the third quarter worth $51,000. 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 during the last quarter. Public Employees Retirement System of Ohio raised its stake in Light & Wonder by 2.3% in the third quarter. Public Employees Retirement System of Ohio now owns 35,960 shares of the company's stock valued at $3,263,000 after buying an additional 804 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Light & Wonder by 539.6% during the 3rd quarter. Barclays PLC now owns 155,852 shares of the company's stock worth $14,142,000 after buying an additional 131,486 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LNW shares. Jefferies Financial Group raised their target price 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 boosted their price objective on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 26th. Benchmark upped their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 28th. Macquarie lifted their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Light & Wonder currently has a consensus rating of "Moderate Buy" and an average price target of $109.91.

Insider Activity at Light & Wonder

In other Light & Wonder 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 owns 77,331 shares in the company, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Oliver Chow sold 2,595 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $104.94, for a total value of $272,319.30. Following the transaction, the chief financial officer now directly owns 3,695 shares of the company's stock, valued at approximately $387,753.30. This trade represents a 41.26 % 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 three months. Insiders own 2.10% of the company's stock.

Light & Wonder Stock Performance

Shares of LNW stock traded up $2.29 during midday trading on Tuesday, hitting $81.02. The company had a trading volume of 389,136 shares, compared to its average volume of 765,570. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 0.35 and a beta of 1.38. 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 company's 50 day simple moving average is $96.89 and its 200 day simple moving average is $93.62. Light & Wonder, Inc. has a 52-week low of $75.46 and a 52-week high of $115.00.

Light & Wonder Company 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.