Natixis Advisors LLC Sells 6,636 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Natixis Advisors LLC decreased its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 32.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,880 shares of the company's stock after selling 6,636 shares during the period. Natixis Advisors LLC's holdings in Light & Wonder were worth $1,199,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Light & Wonder by 393.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,554 shares of the company's stock valued at $3,589,000 after buying an additional 33,136 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Light & Wonder by 11.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,885 shares of the company's stock valued at $1,890,000 after acquiring an additional 2,326 shares in the last quarter. Inceptionr LLC acquired a new position in shares of Light & Wonder in the fourth quarter worth $261,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Light & Wonder during the fourth quarter worth $596,000. Finally, Ieq Capital LLC boosted its position in Light & Wonder by 590.3% during the fourth quarter. Ieq Capital LLC now owns 20,343 shares of the company's stock valued at $1,757,000 after purchasing an additional 17,396 shares during the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on LNW. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised their target price on shares of 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 target price on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Macquarie raised their price target on Light & Wonder from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group boosted their price objective on Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $110.91.

Remove Ads

Insider Buying and Selling

In other Light & Wonder news, CFO Oliver Chow sold 2,595 shares of Light & Wonder stock in a transaction on Friday, March 7th. The stock was sold at an average price of $104.94, for a total transaction of $272,319.30. Following the completion of the transaction, the chief financial officer now directly owns 3,695 shares of the company's stock, valued at approximately $387,753.30. This trade represents a 41.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Vanja Kalabic sold 1,132 shares of the business's stock in a transaction 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 in the company, valued at $523,720.56. This represents a 18.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,867 shares of company stock valued at $1,037,884 over the last ninety days. 2.10% of the stock is owned by company insiders.

Light & Wonder Stock Performance

Shares of LNW stock traded down $10.27 during mid-day trading on Friday, reaching $89.09. The stock had a trading volume of 1,490,362 shares, compared to its average volume of 732,080. The firm has a market cap of $7.53 billion, a PE ratio of 27.67, a P/E/G ratio of 0.35 and a beta of 1.59. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a one year low of $84.00 and a one year high of $115.00. The firm's 50 day simple moving average is $98.48 and its 200 day simple moving average is $95.76.

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.