Corebridge Financial Inc. Sells 5,050 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Corebridge Financial Inc. cut its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,942 shares of the company's stock after selling 5,050 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Light & Wonder worth $8,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. True Wealth Design LLC acquired a new stake in Light & Wonder in the third quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in shares of Light & Wonder in the 4th quarter valued at $35,000. Quarry LP bought a new stake in Light & Wonder in the third quarter worth $51,000. Blue Trust Inc. increased its position in Light & Wonder by 194.3% during 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. Finally, Neo Ivy Capital Management bought a new position in Light & Wonder during the third quarter valued at about $104,000. Hedge funds and other institutional investors own 88.08% of the company's stock.

Insider Buying and Selling at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total transaction of $118,192.12. Following the completion of the transaction, the chief accounting officer now owns 5,016 shares in the company, valued at $523,720.56. This trade represents a 18.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Sottile sold 2,356 shares of the company's 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 completion of the sale, the vice president now owns 77,331 shares in the company, valued at $8,161,513.74. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock valued at $1,037,884 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

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Light & Wonder Stock Performance

Shares of LNW traded up $1.26 on Tuesday, reaching $87.87. 884,182 shares of the stock traded hands, compared to its average volume of 736,144. The stock's 50-day moving average price is $98.34 and its 200-day moving average price is $95.32. 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 firm has a market cap of $7.42 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 0.35 and a beta of 1.59. Light & Wonder, Inc. has a 12 month low of $84.00 and a 12 month high of $115.00.

Analyst Ratings Changes

Several research firms have recently issued reports on LNW. Stifel Nicolaus upped their price target on Light & Wonder from $90.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, February 19th. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Macquarie upped their price objective on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, 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 report on Friday, February 28th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $110.91.

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.