OLD Mission Capital LLC Trims Stake in Light & Wonder, Inc. (NASDAQ:LNW)

OLD Mission Capital LLC cut its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 75.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,110 shares of the company's stock after selling 37,267 shares during the period. OLD Mission Capital LLC's holdings in Light & Wonder were worth $1,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares 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 purchased a new position in shares of Light & Wonder in the 3rd quarter valued at $51,000. Blue Trust Inc. grew its holdings 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 purchasing an additional 474 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Light & Wonder during the third quarter worth about $104,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Light & Wonder in the 3rd quarter valued at about $222,000. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Stock Performance

LNW traded up $6.02 during trading on Wednesday, reaching $83.82. The company's stock had a trading volume of 2,063,946 shares, compared to its average volume of 757,843. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. The company's fifty day moving average price is $97.37 and its 200-day moving average price is $93.89. Light & Wonder, Inc. has a 52-week low of $75.46 and a 52-week high of $115.00. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Macquarie raised their price target on Light & Wonder from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. 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. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. Mizuho raised their price objective 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Light & Wonder presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.91.

Insider Activity at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the firm's stock in a transaction dated 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 $523,720.56. This trade represents a 18.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Siobhan Lane sold 3,784 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the transaction, the chief executive officer now owns 21,254 shares in the company, valued at $2,239,533.98. The trade was a 15.11 % decrease in their ownership of the stock. 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 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

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.