Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 174,500 shares of the company’s stock after selling 1,500 shares during the period. Swiss National Bank’s holdings in Light & Wonder were worth $15,073,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of LNW. Quest Partners LLC acquired a new stake in shares of Light & Wonder in the third quarter valued at approximately $337,000. Commerce Bank grew its holdings in Light & Wonder by 10.5% in the 3rd quarter. Commerce Bank now owns 30,396 shares of the company’s stock valued at $2,758,000 after buying an additional 2,887 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Light & Wonder in the 3rd quarter worth $764,000. Cerity Partners LLC raised its holdings in shares of Light & Wonder by 222.1% during the 3rd quarter. Cerity Partners LLC now owns 13,042 shares of the company’s stock worth $1,183,000 after acquiring an additional 8,993 shares during the period. Finally, Algert Global LLC boosted its position in shares of Light & Wonder by 118.5% during the 3rd quarter. Algert Global LLC now owns 61,606 shares of the company’s stock valued at $5,590,000 after acquiring an additional 33,410 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Light & Wonder Stock Performance

NASDAQ LNW opened at $104.50 on Thursday. 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 has a market cap of $8.83 billion, a P/E ratio of 32.45, a P/E/G ratio of 0.35 and a beta of 1.59. The stock has a 50-day moving average of $96.37 and a two-hundred day moving average of $96.00. Light & Wonder, Inc. has a 1-year low of $84.00 and a 1-year high of $115.00.

Insider Activity

In other news, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the completion of the transaction, the chief executive officer now owns 21,254 shares in the company, valued at approximately $2,239,533.98. This trade represents a 15.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP James Sottile sold 2,356 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on LNW. 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 note on Wednesday, January 15th. Stifel Nicolaus lifted their price target on shares of Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Benchmark increased their price objective on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Macquarie upped their price target on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Light & Wonder has an average rating of “Moderate Buy” and an average price target of $110.91.

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.