Bridgewater Associates LP Sells 5,883 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Bridgewater Associates LP cut its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 39.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,968 shares of the company's stock after selling 5,883 shares during the quarter. Bridgewater Associates LP's holdings in Light & Wonder were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in Light & Wonder by 2.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company's stock worth $387,000 after purchasing an additional 108 shares in the last quarter. Xponance Inc. grew its stake in Light & Wonder by 0.7% during the 4th quarter. Xponance Inc. now owns 17,769 shares of the company's stock worth $1,535,000 after buying an additional 120 shares during the last quarter. CIBC Asset Management Inc increased its holdings 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 worth $510,000 after acquiring an additional 146 shares during the period. New York State Common Retirement Fund increased its stake in shares of Light & Wonder by 0.5% in the fourth quarter. New York State Common Retirement Fund now owns 40,250 shares of the company's stock valued at $3,477,000 after purchasing an additional 200 shares during the period. Finally, LPL Financial LLC raised its stake in Light & Wonder by 12.2% during the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company's stock valued at $231,000 after acquiring an additional 291 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction that occurred on 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 sale, the chief executive officer now owns 21,254 shares in the company, valued at $2,239,533.98. The trade was a 15.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction 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 sale, the vice president now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is currently owned by corporate insiders.

Light & Wonder Price Performance

Shares of NASDAQ LNW traded up $2.06 during mid-day trading on Wednesday, hitting $82.42. 827,407 shares of the stock were exchanged, compared to its average volume of 772,348. The company has a market cap of $6.96 billion, a P/E ratio of 25.60, a PEG 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. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00. The stock's fifty day simple moving average is $95.21 and its two-hundred day simple moving average is $93.16.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial dropped their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday. Stifel Nicolaus dropped their target price on shares of Light & Wonder from $93.00 to $84.00 and set a "hold" rating on the stock in a research report on Tuesday. Benchmark upped 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. Mizuho increased their target price 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. Finally, JPMorgan Chase & Co. lifted their price target on Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Light & Wonder currently has an average rating of "Moderate Buy" and a consensus target price of $108.64.

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.