Iridian Asset Management LLC CT Has $8.66 Million Position in Light & Wonder, Inc. (NASDAQ:LNW)

Iridian Asset Management LLC CT raised its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 94.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,192 shares of the company's stock after acquiring an additional 48,621 shares during the period. Light & Wonder makes up approximately 2.3% of Iridian Asset Management LLC CT's holdings, making the stock its 15th biggest holding. Iridian Asset Management LLC CT owned approximately 0.11% of Light & Wonder worth $8,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. True Wealth Design LLC acquired a new position in shares of Light & Wonder in the 3rd quarter valued at $28,000. Capital Performance Advisors LLP acquired a new position in shares of Light & Wonder in the 3rd quarter valued at $29,000. R Squared Ltd purchased a new position in shares of Light & Wonder during the 4th quarter worth approximately $35,000. Quarry LP acquired a new position in Light & Wonder in the 3rd quarter valued at about $51,000. Finally, Blue Trust Inc. raised its stake in shares of 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 acquiring an additional 474 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Light & Wonder Stock Performance

NASDAQ:LNW traded down $3.68 during midday trading on Tuesday, reaching $93.99. 540,945 shares of the company traded hands, compared to its average volume of 628,556. 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 capitalization of $8.30 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 0.30 and a beta of 1.72. Light & Wonder, Inc. has a twelve month low of $83.91 and a twelve month high of $115.00. The company has a fifty day moving average price of $88.96 and a 200 day moving average price of $96.24.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LNW. Truist Financial cut their price target on shares of Light & Wonder from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Benchmark reaffirmed a "buy" rating and issued a $114.00 target price on shares of Light & Wonder in a research note on Monday, January 27th. Finally, Jefferies Financial Group boosted their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Light & Wonder presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.50.

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.