Light & Wonder, Inc. (NASDAQ:LNW) Shares Acquired by AXQ Capital LP

AXQ Capital LP lifted its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 94.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,198 shares of the company's stock after acquiring an additional 3,500 shares during the quarter. AXQ Capital LP's holdings in Light & Wonder were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of LNW. Xponance Inc. grew its holdings in Light & Wonder by 0.7% during the 4th quarter. Xponance Inc. now owns 17,769 shares of the company's stock worth $1,535,000 after acquiring an additional 120 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company's stock worth $510,000 after purchasing an additional 146 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Light & Wonder by 0.5% during the fourth quarter. New York State Common Retirement Fund now owns 40,250 shares of the company's stock worth $3,477,000 after purchasing an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Light & Wonder by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,559 shares of the company's stock valued at $1,775,000 after buying an additional 281 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in Light & Wonder in the third quarter valued at $28,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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Light & Wonder Stock Performance

LNW stock traded down $6.13 during trading on Thursday, hitting $99.36. The company had a trading volume of 645,655 shares, compared to its average volume of 705,040. The firm has a 50-day moving average price of $98.30 and a 200-day moving average price of $95.93. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The firm has a market cap of $8.39 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59. Light & Wonder, Inc. has a 1-year low of $84.00 and a 1-year high of $115.00.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LNW shares. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. Macquarie upped their price target on Light & Wonder from $122.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Stifel Nicolaus raised their price objective on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a "hold" rating in a report on Wednesday, February 19th. Benchmark upped their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $110.91.

Insider Buying and Selling at Light & Wonder

In other news, CAO Vanja Kalabic sold 1,132 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total value of $118,192.12. Following the completion of the sale, the chief accounting officer now owns 5,016 shares in the company, valued at approximately $523,720.56. This trade represents a 18.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James Sottile sold 2,356 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the transaction, the vice president now owns 77,331 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is currently owned by insiders.

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.