Russell Investments Group Ltd. Sells 58,144 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Russell Investments Group Ltd. trimmed its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 59.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,726 shares of the company's stock after selling 58,144 shares during the period. Russell Investments Group Ltd.'s holdings in Light & Wonder were worth $3,432,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LNW. R Squared Ltd purchased a new position in shares of Light & Wonder during the fourth quarter valued at $35,000. Blue Trust Inc. grew its stake in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after acquiring an additional 474 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Light & Wonder in the 3rd quarter valued at about $222,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Light & Wonder in the fourth quarter worth approximately $224,000. Finally, LPL Financial LLC lifted its position in shares of Light & Wonder by 12.2% in the fourth quarter. LPL Financial LLC now owns 2,677 shares of the company's stock worth $231,000 after purchasing an additional 291 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on LNW. Macquarie upped their price objective on shares of Light & Wonder from $122.00 to $125.00 and gave the company an "outperform" 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 company a "buy" rating in a report on Friday, February 28th. JPMorgan Chase & Co. increased their price objective on Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Stifel Nicolaus reduced their price objective on Light & Wonder from $93.00 to $84.00 and set a "hold" rating for the company in a research report on Tuesday. Finally, Mizuho upped their target price on Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a research report 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $109.09.

Light & Wonder Stock Performance

LNW traded up $2.49 on Tuesday, hitting $80.36. The company had a trading volume of 1,062,355 shares, compared to its average volume of 772,127. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The company's fifty day moving average price is $95.21 and its 200 day moving average price is $93.16. Light & Wonder, Inc. has a 1-year low of $75.46 and a 1-year high of $115.00.

Insider Activity

In other news, CFO Oliver Chow sold 2,595 shares of Light & Wonder stock in a transaction dated Friday, March 7th. The stock was 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 approximately $387,753.30. The trade was a 41.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP James Sottile sold 2,356 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the sale, the vice president now owns 77,331 shares of the company's stock, valued at approximately $8,161,513.74. The trade was a 2.96 % 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 valued at $1,037,884 over the last 90 days. 2.10% of the stock is currently owned by company 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.