Sei Investments Co. Sells 8,571 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Sei Investments Co. reduced its position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 60.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,717 shares of the company's stock after selling 8,571 shares during the period. Sei Investments Co.'s holdings in Light & Wonder were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Light & Wonder in the 4th quarter valued at $35,000. Quarry LP acquired a new position in shares of Light & Wonder in the third quarter worth approximately $51,000. Blue Trust Inc. increased its position in shares of Light & Wonder by 194.3% during the fourth quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after buying an additional 474 shares during the period. Neo Ivy Capital Management bought a new position in shares of Light & Wonder in the 3rd quarter worth about $104,000. Finally, Sanctuary Advisors LLC bought a new stake in Light & Wonder in the third quarter worth approximately $222,000. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Price Performance

Shares of LNW traded up $1.94 during midday trading on Tuesday, hitting $80.67. 135,349 shares of the company traded hands, compared to its average volume of 764,643. The stock has a 50-day moving average of $96.89 and a 200-day moving average of $93.62. The firm has a market cap of $6.81 billion, a P/E ratio of 24.99, a PEG ratio of 0.35 and a beta of 1.38. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61.

Insider Activity

In related news, 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 $8,161,513.74. The trade was a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Oliver Chow sold 2,595 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 3,695 shares in the company, valued at $387,753.30. This trade represents a 41.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock worth $1,037,884 in the last three months. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

LNW has been the topic of several recent research reports. Macquarie raised their price target 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. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. raised their price objective on Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Benchmark boosted their price target on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Jefferies Financial Group lifted their target price 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Light & Wonder presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.91.

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.