Bryce Point Capital LLC Takes $498,000 Position in Light & Wonder, Inc. (NASDAQ:LNW)

Bryce Point Capital LLC acquired a new position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,764 shares of the company's stock, valued at approximately $498,000.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Light & Wonder during the 4th quarter worth approximately $35,000. Quarry LP acquired a new stake in Light & Wonder during the third quarter worth $51,000. Blue Trust Inc. increased its holdings in Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after buying an additional 474 shares during the period. Neo Ivy Capital Management bought a new stake in Light & Wonder in the 3rd quarter valued at $104,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Light & Wonder in the 3rd quarter valued at $222,000. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Stock Up 7.7 %

Shares of NASDAQ:LNW traded up $6.02 during midday trading on Wednesday, reaching $83.82. The company had a trading volume of 2,063,946 shares, compared to its average volume of 757,843. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The business's 50 day moving average price is $97.37 and its 200 day moving average price is $93.89. The stock has a market cap of $7.08 billion, a PE ratio of 26.03, a P/E/G ratio of 0.35 and a beta of 1.38. Light & Wonder, Inc. has a 1-year low of $75.46 and a 1-year high of $115.00.

Wall Street Analyst Weigh In

LNW has been the topic of a number of analyst reports. Mizuho upped their target price on shares of 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. upped their price objective on Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. 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. Stifel Nicolaus lowered their price target on Light & Wonder from $104.00 to $93.00 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Finally, Benchmark increased their price objective on Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Light & Wonder presently has a consensus rating of "Moderate Buy" and an average price target of $109.91.

Insiders Place Their Bets

In other news, VP James Sottile sold 2,356 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the 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 completion of the sale, the chief accounting officer now owns 5,016 shares of the company's stock, valued at $523,720.56. The trade was 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 valued at $1,037,884 over the last 90 days. 2.10% of the stock is currently owned by 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.