Invesco Ltd. Raises Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Invesco Ltd. raised its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 37.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587,809 shares of the company's stock after acquiring an additional 158,790 shares during the period. Invesco Ltd. owned 0.67% of Light & Wonder worth $50,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in LNW. Mitsubishi UFJ Trust & Banking Corp increased its stake in Light & Wonder by 2.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company's stock valued at $387,000 after purchasing an additional 108 shares during the period. Xponance Inc. increased its position in Light & Wonder by 0.7% in the 4th quarter. Xponance Inc. now owns 17,769 shares of the company's stock valued at $1,535,000 after acquiring an additional 120 shares during the period. CIBC Asset Management Inc raised its stake in Light & Wonder by 2.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,901 shares of the company's stock valued at $510,000 after acquiring an additional 146 shares during the last quarter. New York State Common Retirement Fund lifted its position in Light & Wonder by 0.5% during the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company's stock worth $3,477,000 after acquiring an additional 200 shares during the period. Finally, LPL Financial LLC grew its stake in shares of Light & Wonder by 12.2% in the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company's stock valued at $231,000 after purchasing an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company's stock.

Light & Wonder Price Performance

Shares of NASDAQ:LNW traded down $1.86 during trading on Monday, hitting $78.10. 52,479 shares of the stock were exchanged, compared to its average volume of 768,107. The company has a market cap of $6.60 billion, a PE ratio of 24.25, a P/E/G ratio of 0.35 and a beta of 1.38. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The company has a fifty day moving average price of $95.90 and a two-hundred day moving average price of $93.36. Light & Wonder, Inc. has a 12-month low of $75.46 and a 12-month high of $115.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LNW shares. 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. Benchmark upped their price objective 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. Jefferies Financial Group lifted their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price target 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. Finally, Macquarie raised their price objective 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $109.91.

Insider Buying and Selling 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 stock was sold at an average price of $104.41, for a total value of $118,192.12. Following the sale, the chief accounting officer now owns 5,016 shares of the company's stock, valued at approximately $523,720.56. This represents a 18.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James Sottile sold 2,356 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was 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 $8,161,513.74. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,867 shares of company stock valued at $1,037,884. 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.