Capital Research Global Investors Lowers Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Capital Research Global Investors decreased its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 26.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607,402 shares of the company's stock after selling 587,430 shares during the period. Capital Research Global Investors owned 1.82% of Light & Wonder worth $138,847,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Light & Wonder during the 4th quarter worth approximately $35,000. Blue Trust Inc. increased its holdings in 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 purchasing an additional 474 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Light & Wonder in the third quarter worth approximately $222,000. Landscape Capital Management L.L.C. bought a new position in Light & Wonder during the fourth quarter worth $224,000. Finally, Farringdon Capital Ltd. bought a new position in shares of Light & Wonder during the 4th quarter worth approximately $230,000. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Stock Performance

NASDAQ LNW traded up $2.06 during trading hours on Wednesday, reaching $82.42. The stock had a trading volume of 827,407 shares, compared to its average volume of 771,810. The stock has a fifty day moving average of $94.92 and a 200 day moving average of $93.09. The stock has a market cap of $6.96 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. Light & Wonder, Inc. has a 52-week low of $75.46 and a 52-week high of $115.00. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88.

Analyst Upgrades and Downgrades

LNW has been the topic of several analyst reports. Jefferies Financial Group upped their price objective 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. Macquarie boosted their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Benchmark lifted their target price on Light & Wonder from $114.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 28th. Truist Financial dropped their price objective on Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $108.64.

Insider Transactions at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the company's 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 sale, the chief accounting officer now directly owns 5,016 shares of the company's stock, valued at $523,720.56. This represents a 18.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James Sottile sold 2,356 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the sale, the vice president now directly owns 77,331 shares in the company, valued at $8,161,513.74. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock valued at $1,037,884 over the last ninety days. Insiders own 2.10% of the company's stock.

Light & Wonder 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.