California Public Employees Retirement System cut its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,835 shares of the company's stock after selling 8,061 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Light & Wonder worth $12,684,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of Light & Wonder during the fourth quarter valued at approximately $35,000. Quarry LP bought a new stake in shares of Light & Wonder in the third quarter worth $51,000. Blue Trust Inc. increased its stake in shares of Light & Wonder by 194.3% in the fourth quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after buying an additional 474 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Light & Wonder in the third quarter worth $104,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Light & Wonder in the third quarter worth $222,000. 88.08% of the stock is owned by institutional investors and hedge funds.
Light & Wonder Stock Down 6.0 %
NASDAQ:LNW traded down $5.02 during mid-day trading on Thursday, reaching $78.80. The stock had a trading volume of 166,298 shares, compared to its average volume of 755,645. The business's 50 day moving average is $97.37 and its 200 day moving average is $93.89. Light & Wonder, Inc. has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The stock has a market cap of $6.66 billion, a P/E ratio of 24.78, 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.
Insider Buying and Selling
In other Light & Wonder news, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the completion of the transaction, the chief executive officer now directly owns 21,254 shares of the company's stock, valued at approximately $2,239,533.98. This trade represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Sottile sold 2,356 shares of Light & Wonder 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 directly owns 77,331 shares of the company's stock, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,867 shares of company stock worth $1,037,884. Insiders own 2.10% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on LNW shares. JPMorgan Chase & Co. increased 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. Stifel Nicolaus lowered their price target on shares of Light & Wonder from $104.00 to $93.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Benchmark upped their price target on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Mizuho upped their price target 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, Jefferies Financial Group upped their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $109.91.
Check Out Our Latest Stock Analysis on Light & Wonder
Light & Wonder 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.
Further Reading
Before you consider Light & Wonder, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Light & Wonder wasn't on the list.
While Light & Wonder currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
