Wellington Management Group LLP Purchases New Position in Light & Wonder, Inc. (NASDAQ:LNW)

Wellington Management Group LLP purchased a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,953 shares of the company's stock, valued at approximately $3,365,000.

Several other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Light & Wonder by 2.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company's stock valued at $387,000 after purchasing an additional 108 shares during the period. Xponance Inc. boosted its stake in Light & Wonder by 0.7% in the 4th quarter. Xponance Inc. now owns 17,769 shares of the company's stock valued at $1,535,000 after buying an additional 120 shares in the last quarter. CIBC Asset Management Inc grew its position in Light & Wonder by 2.5% in the fourth 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 during the period. New York State Common Retirement Fund raised its stake in Light & Wonder by 0.5% during the fourth quarter. New York State Common Retirement Fund now owns 40,250 shares of the company's stock worth $3,477,000 after acquiring an additional 200 shares in the last quarter. Finally, LPL Financial LLC raised its stake in Light & Wonder by 12.2% during the fourth quarter. LPL Financial LLC now owns 2,677 shares of the company's stock worth $231,000 after acquiring an additional 291 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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Light & Wonder Stock Up 2.1 %

Shares of NASDAQ LNW traded up $1.63 during midday trading on Tuesday, reaching $80.36. The company's stock had a trading volume of 1,107,411 shares, compared to its average volume of 768,325. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 0.35 and a beta of 1.38. Light & Wonder, Inc. has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The stock has a 50 day simple moving average of $96.89 and a 200-day simple moving average of $93.62. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49.

Analysts Set New Price Targets

Several research firms have recently weighed in on LNW. Jefferies Financial Group upped their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Stifel Nicolaus decreased their price objective on shares of Light & Wonder from $104.00 to $93.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. increased their price target on Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Mizuho raised their price target on Light & Wonder from $76.00 to $80.00 and gave the company an "underperform" rating in a report on Wednesday, February 26th. Finally, Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Light & Wonder has a consensus rating of "Moderate Buy" and a consensus target price of $109.91.

Insider Transactions at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the 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 sale, the chief accounting officer now owns 5,016 shares in the company, valued at approximately $523,720.56. This trade represents a 18.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James Sottile sold 2,356 shares of the 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 completion of the transaction, the vice president now directly owns 77,331 shares of the company's stock, valued at $8,161,513.74. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock worth $1,037,884 in the last ninety days. Insiders own 2.10% of the company's stock.

Light & Wonder 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.