ExodusPoint Capital Management LP Sells 10,645 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

ExodusPoint Capital Management LP decreased its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 39.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,575 shares of the company's stock after selling 10,645 shares during the period. ExodusPoint Capital Management LP's holdings in Light & Wonder were worth $1,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Captrust Financial Advisors bought a new position in Light & Wonder in the third quarter valued at approximately $261,000. Quarry LP acquired a new stake in shares of Light & Wonder during the 3rd quarter worth about $51,000. State Street Corp grew its position in shares of Light & Wonder by 2.2% in the third quarter. State Street Corp now owns 2,651,627 shares of the company's stock valued at $240,582,000 after purchasing an additional 56,890 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Light & Wonder by 2.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 35,960 shares of the company's stock worth $3,263,000 after buying an additional 804 shares during the period. Finally, Barclays PLC raised its stake in Light & Wonder by 539.6% in the 3rd quarter. Barclays PLC now owns 155,852 shares of the company's stock worth $14,142,000 after purchasing an additional 131,486 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

Insider Activity

In other Light & Wonder news, CFO Oliver Chow sold 2,595 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $104.94, for a total value 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 $387,753.30. The trade was a 41.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP James Sottile sold 2,356 shares of the 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 sale, the vice president now directly owns 77,331 shares of the company's stock, valued at approximately $8,161,513.74. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on LNW. JPMorgan Chase & Co. increased their target price on Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Mizuho raised their target price on Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 26th. Citigroup upgraded Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. Jefferies Financial Group boosted their price objective on Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Finally, Stifel Nicolaus decreased their price target on Light & Wonder from $104.00 to $93.00 and set a "hold" rating for the company in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $109.91.

Light & Wonder Stock Performance

Shares of NASDAQ:LNW traded up $1.95 during midday trading on Tuesday, reaching $80.68. 275,576 shares of the company traded hands, compared to its average volume of 765,103. The firm's fifty day moving average price is $96.89 and its two-hundred day moving average price is $93.62. Light & Wonder, Inc. has a 12 month low of $75.46 and a 12 month high of $115.00. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Light & Wonder Company 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.