Bank of New York Mellon Corp Sells 41,521 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Bank of New York Mellon Corp decreased its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 6.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 597,800 shares of the company's stock after selling 41,521 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of Light & Wonder worth $51,638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its position in Light & Wonder by 2.5% in 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 in the last quarter. New York State Common Retirement Fund lifted its position in Light & Wonder by 0.5% in the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company's stock valued at $3,477,000 after acquiring an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Light & Wonder by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,559 shares of the company's stock valued at $1,775,000 after acquiring an additional 281 shares in the last quarter. True Wealth Design LLC bought a new stake in Light & Wonder in the 3rd quarter valued at $28,000. Finally, Capital Performance Advisors LLP bought a new stake in Light & Wonder in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 88.08% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LNW. Jefferies Financial Group boosted their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Mizuho boosted their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 26th. Macquarie boosted their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Citigroup raised shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $110.83.

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Light & Wonder Stock Performance

Shares of NASDAQ:LNW traded up $1.08 on Friday, reaching $105.10. 795,251 shares of the company's stock were exchanged, compared to its average volume of 732,115. The company has a fifty day moving average of $93.60 and a 200-day moving average of $96.29. Light & Wonder, Inc. has a twelve month low of $84.00 and a twelve month high of $115.00. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 0.35 and a beta of 1.59. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49.

Insiders Place Their Bets

In other news, CAO Vanja Kalabic sold 1,132 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Siobhan Lane sold 3,784 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the sale, the chief executive officer now directly owns 21,254 shares of the company's stock, valued at approximately $2,239,533.98. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock worth $1,037,884 in the last quarter. Corporate insiders own 2.10% of the company's stock.

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.