Connor Clark & Lunn Investment Management Ltd. raised its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 393.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,554 shares of the company's stock after buying an additional 33,136 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Light & Wonder were worth $3,589,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in LNW. True Wealth Design LLC purchased a new position in shares of Light & Wonder during the 3rd quarter worth approximately $28,000. R Squared Ltd purchased a new position in shares of Light & Wonder during the 4th quarter worth approximately $35,000. Quarry LP purchased a new position in shares of Light & Wonder during the 3rd quarter worth approximately $51,000. Blue Trust Inc. increased its stake in shares of Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after purchasing an additional 474 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Light & Wonder during the 3rd quarter worth approximately $104,000. 88.08% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
LNW has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Benchmark lifted their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Mizuho lifted their target price on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their target price on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, February 19th. Finally, Macquarie lifted their target price 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Light & Wonder currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.91.
View Our Latest Research Report on Light & Wonder
Light & Wonder Stock Down 0.6 %
Light & Wonder stock traded down $0.66 during midday trading on Friday, hitting $103.67. 1,374,057 shares of the stock were exchanged, compared to its average volume of 707,374. Light & Wonder, Inc. has a 1 year low of $84.00 and a 1 year high of $115.00. The firm has a market cap of $8.76 billion, a P/E ratio of 32.20, a P/E/G ratio of 0.35 and a beta of 1.59. 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 has a 50 day moving average price of $96.74 and a two-hundred day moving average price of $96.06.
Insider Buying and Selling at Light & Wonder
In other news, VP James Sottile sold 2,356 shares of the company's stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 77,331 shares of the company's stock, valued at approximately $8,161,513.74. This represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Oliver Chow sold 2,595 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $104.94, for a total transaction of $272,319.30. Following the completion of the sale, the chief financial officer now directly owns 3,695 shares of the company's stock, valued at approximately $387,753.30. This represents a 41.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock valued at $1,037,884 in the last ninety days. Company insiders own 2.10% of the company's stock.
Light & Wonder Company 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.
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